Pensions

Does anybody know if its possible to cash in pension contributions? I've paid both into both in Ireland and England and with the latest Goverment plans to seek greater contribution from public sector workers here alongside an increase in the age you work to I'm wondering why I should actually bother paying for something I'm unlikely ever to use. I know I can stop contributing to the Local Government Pension Scheme but can I actually claim my contributions to date back?

Your thoughts?

As far as I'm aware you can (here anyway), but you get hit for tax on it. Not sure on the UK. You may be better moving it between schemes, if that's an option, as contributions made when you are young get more expensive to replace as you get older.

Public sector over here have no option but to pay in, even though in many cases they'd be better off on the standard contributory pension (for all the "gold plated" stuff). Interesting there's an opt out in the UK - can't see how that's not a factor in their oft talked about pensions issues.