We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pension
Marhaba_Man
Posts: 38 Forumite
I have 8200 to buy a pension what is my best option where should I look for anuities etc.
0
Comments
-
Do you mean you have £8200 in a pension pot and now wish to access it by buying an annuity? If so see an IFA to search the open market.
Or what do you mean?0 -
i have a pot of that but will take 25% cash0
-
To take the 25% tax free lump sum you will also have to take the pension each month.
See an IFA as I said earlier to search for the best deal on the open market.0 -
do you have any suggestions for fee free IFA I was assuming Im taking 25% with the reduced amount0
-
£8200 minus 25% isn't going to buy you very much pension, maybe around £400 a year for a 65 year old man.
So if it's your only pension apart from state pension and you are over 60, you could cash the whole lot in under the triviality rules.0 -
do you have any suggestions for fee free IFA I was assuming Im taking 25% with the reduced amount
Why would an IFA take on a lifetime of liability and hours of paperwork for free?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 -
I already have a pension and the pension company have said i cant take a total lump sum which i thought i would have been able to.0
-
Marhaba_Man wrote: »do you have any suggestions for fee free IFA I was assuming Im taking 25% with the reduced amount
No IFA is going to work for nothing.
They may take the commission from the provider if it's enough or you pay them a fee.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.3K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.9K Spending & Discounts
- 248K Work, Benefits & Business
- 605.2K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards