Freeing up pension

#1
I am after advice from the ARRSE hivemind. I left the army a couple of years ago having qualified for a pension. I made the decision to pay off all my debts with my lump sum, including getting rid of the negative equity house. I now need to find a reasonable lump of cash (25k) fairly quickly. Before I borrow I wondered if there was any way I could leverage my pension. I am on a decent salary now and so dont need the small amount that I receive on a monthly basis, but do need to find the lump in comparatively short order. The Internet doesn't seem to understand military pensions. Can I borrow against it? Can it be transferred? I have a couple of very well performing private pensions so if I can use the military pension to solve my immediate problem it would be very useful.

All sensible advice gratefully received (by Mon morning if possible!).
 
#3
I am after advice from the ARRSE hivemind. I left the army a couple of years ago having qualified for a pension. I made the decision to pay off all my debts with my lump sum, including getting rid of the negative equity house. I now need to find a reasonable lump of cash (25k) fairly quickly. Before I borrow I wondered if there was any way I could leverage my pension. I am on a decent salary now and so dont need the small amount that I receive on a monthly basis, but do need to find the lump in comparatively short order. The Internet doesn't seem to understand military pensions. Can I borrow against it? Can it be transferred? I have a couple of very well performing private pensions so if I can use the military pension to solve my immediate problem it would be very useful.

All sensible advice gratefully received (by Mon morning if possible!).
A bit late, I am afraid.

Under the 1975 scheme, you can commute the pension (take cash rather than some of the monthly pension) but that has to be done within a short time of leaving the Services. The 2005 scheme offers no such opportunity.

So, the answer is "no", to my knowledge.

I hope you managed to find the money elsewhere!

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