Pension options

dunstonh

The plan is to use this sum for a good holiday to celebrate retirement and then place the rest in some for of account paying interest and use it as a fund for Xmas, birthdays unforseen disasters.

If that was an advised case, then it would likely be considered a mis-sale.

Taking it out of the most tax free environment to put (some/most) of it into a savings account is not a good thing to do (caveat to when it is tax planning). It only takes about 1-2 weeks to get money out of a pension. So, you can leave what you dont need in there and draw it when needed. It is paying tax unnecessarily.

jen0dorf

Hi

again thanks for all the info, suggestions and advice.

I thought that two of my choices were

Flexi Access Drawdown and Uncrystalised Funds Pension Lump Sum.

I have been to see Pensionwise and my won financial adviser and scoured the web etc.

One of the links above takes me to

Partial Pension Encashment.

Do different companies use different names?

cheers

Ian

dunstonh

One of the links above takes me to

Partial Pension Encashment.

Do different companies use different names?

That sounds like UFPLS. yes, firms will use other names at times.

I thought that two of my choices were

Flexi Access Drawdown and Uncrystalised Funds Pension Lump Sum.

or annuity (the rules on annuities also changed with the pension freedoms) or phased flexi-access drawdown.