Advice re:Transfer/Pension Release

CannySaver_2

Old GAD rates and pension pot may have started significantly higher and been depleted through taking maximum GAD, charges and investment losees.

Just my thoughts anyway.

The Canny Saver

atush

gadgetmind wrote: »

I'm puzzled by a £1700 net drawdown from an £18k pension pot - how is this possible?

Must admit I wondered about it too- but lost it in my general concern abt the debt situtaion. To keep taking lump sums and lose them to debt is a bit frightening.

debs154

Thanks again for the input - I can't be certain without checking how much the original pot was.

However I am not sure where I have said that I have lost any lumps sums in debt, as I mentioned my circumstances changed dramatically for the worse a few years ago - painful reasons which I do not care to share on a public forum.

I am working full time, I am clearing the debts and paying into an average salary pension scheme - I have moved my life on considerably without claiming benefits.

We are not all fortunate enough to have financial security for the future. I am fully aware that I will not have a luxury retirement and have come to terms with that fact.

The information I have had particularly from Atush has been more than useful in helping me decide the best course of action for my particular circumstances.

atush

Sorry, didn't mean to pry. I was just assuming you had 25% from the pension you took at 50 and you don't have it now.

In any case, you are well on the way to recovery and a better future.