Question re. transferring personal pension to SIPP

itm2

I have a with-profits personal pension scheme with GE (originally National Mutual). It has a defined retirement age of 75. If I decide to transfer the pension to my SIPP (with Hargreaves Lansdown) what would the implications be in terms of the age at which I can drawdown on the pension? (i.e. would this make it possible to start drawdown at an earlier age?
I need to check out other things before deciding (e.g. any guaranteed annuity rates and/or end-of-term benefits associated with the GE scheme), but wanted to know if transferring the scheme would give me the required benefit of an earlier drawdown?

dunstonh

I have a with-profits personal pension scheme with GE (originally National Mutual). It has a defined retirement age of 75.

It may not be 75. A lot of schemes just put down the maximum age as default but allow you to draw at any age between 55 and 75.

hat would the implications be in terms of the age at which I can drawdown on the pension?

No different from a rule point of view. Both allow 55-75. Older pensions and obsolete schemes can be rubbish and worth transferring but some can be absolute gems. Such has having guaranteed annuity rates, guaranteed minimum maturity values or similar. These would be lost on transfer.