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Release funds from a tiny Sipp
tluscombe
Posts: 14 Forumite
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
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
0
Comments
-
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.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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