Trouble accessing pension

worried_bear

So Ive been told that, regardless of my age, is too small to access flexi drawdown. I can however, take the whole amount. Which leaves me with a hefty Tax Bill.

I spoke to Hargreaves Lansdown who have said I can't access a drawdown til I am 55 (does this mean i cant access 25% tax free?) i don't fit in the terminal illness.

Sorry for confusion, Ageon saying yes you could have accessed the drawdown, but the pot isn't big enough to another company saying you cant til your 55

Linton

It would seem from what you have said that the company pension is administered by Aegon and under the company pension scheme rules you can get early access to the pension. But Aegon only support limited access.

However when you transfer to HL you lose any special rights of the company scheme and so are constrained by the general rather more stringent rules. If you do transfer to HL and wait until you are 55 you can access the pension in any way your want.

So you simply have to choose one option or the other.

Lungboy

HL do allow early access to their Vantage SIPP on ill health grounds (according to an email I have from them) but only if you can't do any work at all.