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Is this feasible/legal
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In drawdown you don't have to take any income, just set it to zero if you like. But taking the income and recycling it into more pension contributions may well be a better idea - it's what I'd probably do.0
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A fund that is managed in the same way, with no more risk than the current fund, and whatever legal protection my current fund has. Akin to the "life style" option that migrates towards safer cash-based investments as I near 65.You need to tell us what you mean by "an ordinary pension fund ".Favours are returned ... Trust is earned
Reality is an illusion ... don't knock it
There's a fine line between faith and arrogance ... Heaven only knows where the line is
Being like everyone else when it's right, is as important as being different when it's right
The interpretation you're most likely to believe, is the one you most want to believe0 -
My problem is I don't know what to do with the remaining funds to achieve what I just mentioned in my last post.grey_gym_sock wrote: »you can go into drawdown, but not not actually draw anything other than the 25% for now.
then, some years later, you can start actually drawing an income from the remaining funds. or you can later use the remaining funds to buy an annuity.Favours are returned ... Trust is earned
Reality is an illusion ... don't knock it
There's a fine line between faith and arrogance ... Heaven only knows where the line is
Being like everyone else when it's right, is as important as being different when it's right
The interpretation you're most likely to believe, is the one you most want to believe0 -
A fund that is managed in the same way, with no more risk than the current fund, and whatever legal protection my current fund has. Akin to the "life style" option that migrates towards safer cash-based investments as I near 65.
What is your current fund invested in?
Whatever it is, could it be simulated using - for instance - Vanguard funds?
Heavens, for £63k you could even consider paying an IFA for advice.Free the dunston one next time too.0 -
It's currently in a section 32 buyout fund with Aegon, but not as good as it might sound I think. I got all the bumph from them on it, and there is no GMP nor GAR associated with it.What is your current fund invested in?
Whatever it is, could it be simulated using - for instance - Vanguard funds?
Heavens, for £63k you could even consider paying an IFA for advice.
Yes I've made tentative enquiries re an IFA, but I'm worried about getting stitched up, generally avoid them as far as possible. If I get advised to leave everything unchanged, but pay £500 for the advice, then that's a lot of money from our hard pressed budget to get nowhere. In a quandary.
I'll google the vanguard funds.Favours are returned ... Trust is earned
Reality is an illusion ... don't knock it
There's a fine line between faith and arrogance ... Heaven only knows where the line is
Being like everyone else when it's right, is as important as being different when it's right
The interpretation you're most likely to believe, is the one you most want to believe0 -
Bearing in mind I'm about 5 years from retirement, how about the HL Multi-Manager Strategic Bond?Favours are returned ... Trust is earned
Reality is an illusion ... don't knock it
There's a fine line between faith and arrogance ... Heaven only knows where the line is
Being like everyone else when it's right, is as important as being different when it's right
The interpretation you're most likely to believe, is the one you most want to believe0
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