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TFLS - Fidelity SIPP
Comments
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It remains invested until it is taken out.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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So in your opinion would the phased drawdown or UFPLS options be better for me than taking the full 25 per cent TFLS in one go along with my personal allowance each year until state pension?
I would look at both methods and cost them accordingly. No difference in charges either way but the tax could be better with one method.
Phasing the 25% TFC with each withdrawal would likely provide the best result (without actually looking at the figures).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 -
I would look at both methods and cost them accordingly. No difference in charges either way but the tax could be better with one method.
Phasing the 25% TFC with each withdrawal would likely provide the best result (without actually looking at the figures).
Thank you for your views/opinions they are very much appreciated and I will cost the options to find a way forward. At the end of the day there may not be a lot if difference.0 -
Thank you for your views/opinions they are very much appreciated and I will cost the options to find a way forward. At the end of the day there may not be a lot if difference.
My husband was in a similar position to you and wanted to drain his pension as soon as possible. He took the full 25% and is personal allowance in his first year and this enabled us to re-invest £20K each into our S&S ISA's which is exactly what you are considering. The money still stays invested so you are just switching out from your pension fund and into your ISA accounts. You should only be out of the market for a short time.0
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