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take stakeholder pension as cash?
dach
Posts: 33 Forumite
my wife has paid into her stakeholder pension over the last few years to the sum of about £13000
this will generate a rather small addition to our main pensions
as the total is below £15000 will she be able to take the full amount in cash after April when the new regulations come into force
she is over 55 and due to retire in the near future
any opionions??
this will generate a rather small addition to our main pensions
as the total is below £15000 will she be able to take the full amount in cash after April when the new regulations come into force
she is over 55 and due to retire in the near future
any opionions??
0
Comments
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Triviality applies from age 60 onwards, not earlier.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It's 15k for the total of all her pensions, except state pensions, not just the one you want to take as cash.Trying to keep it simple...
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I'm 59 with some small (£100) bagger stakeholders. I'm currently in a position to increase these amounts. I have no other pension. Should I put in say +/-£10000, add on Gordon's share & then cash in when I'm 60 on a tax free basis?Nice to save.0
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If the total amount will end up less than 15k and you will never use pensions again, then yes go for it. Make sure you wont be using pensions again though (they are quite an effective investment for over 65s).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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