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Transfer a pension pot
SandLake
Posts: 534 Forumite
If I have a £50k pension pot which I want to take my tax-free lump sum from and then draw down the rest. If my pension provider won't do this, how much will it cost to transfer to a provider who will. Is it likely to be 1% or 10% or £100 or £1000 - or free with the cost being built into the transfer value?
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Comments
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If it is a Defined Contribution scheme and it is a "straightforward" funds based scheme (not with profits scheme with a possible market value adjustment) then if do-it-yourself it shouldnt cost anything.
These relies on you being comfortable with what you are doing and you are certain you are not giving up and valuable benefits. The pension scheme will not tell you if it the wrong thing to do.0 -
Sorry I have not been clear - I have read that some providers don't allow some draw downs or don't have draw down products and therefore the advice is to transfer to one that does - the transfers are quick and easy - but are they free?0
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Sorry I have not been clear - I have read that some providers don't allow some draw downs or don't have draw down products and therefore the advice is to transfer to one that does - the transfers are quick and easy - but are they free?
Post #2 still applies!The questions that get the best answers are the questions that give most detail....0
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