PFRDA

I have a pension fund and need access to it?

I have thousands of dollars in a pension fund and left that employer recently. I am now in financial hardship and that is the only money I have. How do I get it?! Theres got to be a way!

Public Comments

1. You should be able to contact that company's human resources department and make arrangements to "cash out" your pension plan for a set dollar amount. You will lose a tremendous amount of the future benefit, but if you need it, then you need it, right?
2. Robbing your retirement to pay for today's shortcomings? Not a good idea! If the pension plan you speak of is a 401K 1) You will pay taxes on your money. 2) You will pay a penalty for early withdrawal (unless you're 59 1/2) 3) You will be cashing in stocks or stock mutual funds at a bottom. Just a really bad idea. You sure you want to do this?