SIPP can I add these other pension funds?

Careful_ly

Hi

My OH has a SIPP already set up and hopes to retire early, on drawdown in about a year
He also has an old FSAVC approx £5k
an old pension fund with Norwich Union approx £4k
and his Serps contributions held by Legal and General approx £45k
Can these be transferred into the SIPP after A day?
Or will he have to wait till 60 to draw an income from these?

If he can transfer the funds I take it he will then be able to take 25% on retiring? :j

EdInvestor

Hi carefully

Yes to the FSAVC and the NU fund ( but check for any valuable guaranteed annuity rate there, still worth it even with only a small fund, every little helps ).

The SERPS money should be possible, but investment options may be restricted to cash or gilts until 2007 when SIPPs are regulated.Check with the SIPP provider.Regulations have only just changed, so push them if they don't know about the new rule yet.

25% TFC and drawdown possible after transfer ( note there are different drawdown rates for the SERPS money and it will be in a separate drawdown fund).