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Capped vs Flexi Access Drawdown
Gatser
Posts: 625 Forumite
Reasonably happy to continue with Capped Drawdown, although I cannot see that I will need the more generous limits on Capped scheme contributions in future.
So.... are there any other advantages of retaining the Capped Drawdown status? or should I just move into Flexi access drawdown and enjoy the greater flexibility it offers?
So.... are there any other advantages of retaining the Capped Drawdown status? or should I just move into Flexi access drawdown and enjoy the greater flexibility it offers?
THE NUMBER is how much you need to live comfortably: very IMPORTANT as part 1 of Retirement Planning. (Average response to my thread is £26k pa)
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Comments
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Main advantage I think is you don't trigger the MPAA if you stay in capped drawdown.0
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I moved because the fees were lower, not because of the extra flexibility. Being limited to £4k going in is very unlikely to be an issue for us.0
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There should be no difference in product charging with most providers. So, that is rare one there pip.
The general rule of thumb is to not to moved capped to flexible unless there is some good reason for doing so.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 -
There should be no difference in product charging with most providers. So, that is rare one there pip.
The general rule of thumb is to not to moved capped to flexible unless there is some good reason for doing so.
We had a £75+vat GAD review coming up so decided to transfer.
Apart from the limit to £4000 SIPP input are there other reasons?0
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