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this pensions thing is soooo confusing!

debbiedoo · 2015-06-27 13:04:29

Hi. I wonder if any of you kind people can give me some advice. Recently received my "wakeup" pack from my pension provider (Pheonix) and have £47,000 in the pot. I am only 56 and would like to take my 25% tax free lump sum and then buy an annuity with the remainder. I would also like to delay taking this pension for at…

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xylophone Posts: 45,604 Forumite

28 June 2015 at 10:58PM edited 28 June 2015 at 11:09PM

You wish to take your lump sum then stay invested for six or more years - might a transfer to eg Bestinvest (which has a low management charge) suit?

http://www.bestinvest.co.uk/investment-tools/free-investment-guides/the-best-sipp/?utm_campaign=SGM-BRAND&gclid=COPmqPmws8YCFYIewwod7d8B8Q

You might consider investing the balance in a low cost index tracker - Vanguard Life Strategy?

http://monevator.com/vanguard-lifestrategy/ might be of interest.

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