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Can I cash in my funds in my Drawdown policy?
Grippa
Posts: 12 Forumite
Hello,
Looking at my statement from a previous Windsor Life pension plan, now managed by ReAssure, it appears I have two policies. One being Personal Pension Unitised (£26,000), and the other being Drawdown (£12,000). I understand that I am taking small annual payments from my Drawdown policy. Is it possible to take this entire amount out in a lump sum as it is under the £18k threshold, or is that not possible as the total value of my policies is over the threshold?
Thanks in advance.
Looking at my statement from a previous Windsor Life pension plan, now managed by ReAssure, it appears I have two policies. One being Personal Pension Unitised (£26,000), and the other being Drawdown (£12,000). I understand that I am taking small annual payments from my Drawdown policy. Is it possible to take this entire amount out in a lump sum as it is under the £18k threshold, or is that not possible as the total value of my policies is over the threshold?
Thanks in advance.
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