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Encashing SIPP
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the_killjoy
Posts: 20 Forumite
I have a small SIPP (£12k) and being over 60 with little chance of it increasing significantly I would like to cash it in.
I know it used to be that if the fund was less than £15k it could in cashed in full rather than being used to provide a pension. Does anyone know if that is still the limit?
I know it used to be that if the fund was less than £15k it could in cashed in full rather than being used to provide a pension. Does anyone know if that is still the limit?
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the_killjoy wrote: »I have a small SIPP (£12k) and being over 60 with little chance of it increasing significantly I would like to cash it in.
I know it used to be that if the fund was less than £15k it could in cashed in full rather than being used to provide a pension. Does anyone know if that is still the limit?
The limit is £18K and applies to the sum total of all your pensions, not individual ones. There is a limit for individual pensions but it's only £2K.0 -
Do you have any other pension benefits?I am an IFA. Any comments made on this forum are provided for information only and should not be construed as advice. Should you need advice on a specific area then please consult a local IFA.0
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No other pension, just the state one, given the SIPP is so small I want to cash it in and transfer it into an ISA.0
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