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Pension Options
SANDYBEAR124
Posts: 6 Forumite
I Currently Have Two Pension With Different Providers
Can I Take An Annuity With One Pension And A Drawdown With The Other Pension After I Take A Lump Sum .
With The Stock Market Being So Volatile Can I Move My Managed Funds Into Cash To Protect My Fund Against Any Major Falls In The Stock Market While I Consider My Options And Can This Be Done Quickly.
Can I Take An Annuity With One Pension And A Drawdown With The Other Pension After I Take A Lump Sum .
With The Stock Market Being So Volatile Can I Move My Managed Funds Into Cash To Protect My Fund Against Any Major Falls In The Stock Market While I Consider My Options And Can This Be Done Quickly.
0
Comments
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Yes, you can do annuity with one and drawdown with the other, assuming each of them allows the option you want. Note that you should not automatically take the pension annuity from the pension company but should instead ask an IFA to find you the best deal using the "open market option" because the difference in the pension you get can be substantial.
The IFA can also help you to move the money around if the amounts don't happen to match the exact split that you want to do.
Ask the pension providers about investment choices and how to change them.0
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