Release funds from a tiny Sipp

tluscombe

Hello experts,

I'm 52 and unemployed on Jobseekers. My wife is disabled and has DLA at higher rates.

I have a tiny SIPP with about £12k in it - is there a way I can access that money now?

Thanks for your help

T

dunstonh

is there a way I can access that money now?

No.

All you can do is access 25% but by doing so you will reduce future income and the ability to take the whole amount as a lump sum at 60.