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Draw Down
jojorose
Posts: 52 Forumite
Hi all
I have just drawn down the entire pension pot i had in Aeon as a small pot. While I was reading the blurb they state that i can only draw down three times pre-retirement. (No longer relevent as ive emptied the pot with them) but I have four remaining pots with other companies (all about 5,000 sterling). I had planned on drawing them down one after the other each time the bill account hit nil until I reach state pension age. Is this just Aeon? I was previously under the impression I could draw what I wanted when I wanted because of the small sums involved? I could manage with two of the better funds but really all would be better.
I have just drawn down the entire pension pot i had in Aeon as a small pot. While I was reading the blurb they state that i can only draw down three times pre-retirement. (No longer relevent as ive emptied the pot with them) but I have four remaining pots with other companies (all about 5,000 sterling). I had planned on drawing them down one after the other each time the bill account hit nil until I reach state pension age. Is this just Aeon? I was previously under the impression I could draw what I wanted when I wanted because of the small sums involved? I could manage with two of the better funds but really all would be better.
For some people enough will never be reached.
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Comments
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There's no law so it will depend on the administration.0
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Lets hope it was just them then. It was the first time Id heard of it.For some people enough will never be reached.0
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They are the old triviality rules (one of the only ways you could get 100% lump sum). You could do 3 lots of under £10k.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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