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Is there a minimum term for a sipp or stakeholder pension
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candr42
Posts: 2 Newbie
I will shortly receive a large redundancy payout and then intend to retire.
Can I open up a new SIPP (or Stakeholder) account, pay in the whole amount and then immediately convert it into an annuity (or Drawdown)?
Can I open up a new SIPP (or Stakeholder) account, pay in the whole amount and then immediately convert it into an annuity (or Drawdown)?
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Can I open up a new SIPP (or Stakeholder) account, pay in the whole amount and then immediately convert it into an annuity (or Drawdown)?
Stakeholder providers arent really geared for that but its possible with some of them. Typically you would use an immediate vesting personal pension, fund supermarket personal pension or SIPP.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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