It's time to start digging up those Squirrelled Nuts!!!!

I_want_to_break_free

Hi, I'm close to being able to say farewell to paid work and looking to transfer my DC pension to a provider that has reasonable fees for a SIPP with drawdown. Size of the fund will c 500k plus. I'm not looking for pension advice from the provider just a simple / easy accessible platform with reasonable fees for investment and annual UFPLS drawdown. Any suggestions. At moment looking at AJ Bell and HL. Any others I should consider? Thanks

shinytop

I_want_to_break_free wrote: »

Hi, I'm close to being able to say farewell to paid work and looking to transfer my DC pension to a provider that has reasonable fees for a SIPP with drawdown. Size of the fund will c 500k plus. I'm not looking for pension advice from the provider just a simple / easy accessible platform with reasonable fees for investment and annual UFPLS drawdown. Any suggestions. At moment looking at AJ Bell and HL. Any others I should consider? Thanks

For that size of SIPP, if invested in funds, you might be better with one of the flat fee providers like II or iWeb. My DC pot will be a bit less than yours and I'm going with II. They seem OK so far.

Sea_Shell

We'll be needing to look into that side of things over the next 2/3 years, to bring together DH's 2 DC pensions with a total pot of £140,000 (currently with Aegon / Aviva), so we'll be looking at getting the best deal for drawdown, which we want to do monthly, up to the max of PA plus 25% Tax Free, using Flexi-Drawdown. I'll be transferring the allowed portion of my PA to him too.

It'll actually be for the tax year AFTER he turns 55, as he has some small pots available first, along with a fixed term savings bond that will mature and pay £6000 interest on one go!! So that should be enough income for that year. We'll start the drawdown "proper" after that.

I'm sure as we get nearer to that time the good people on this forum will be able to give us some excellent pointers, and the wisdom of their experience.

I_want_to_break_free

Thanks. I'll have a look at what they have to offer.

I_want_to_break_free

Hi,

I plan to start to using flexible drawdown from April 2020. Value of fund is over £500k



I've stress tested by cash forecast and all looks OK. I'm not thinking of de risking to some degree my pension fund. I plan to draw on this heavily for the next 7 years until a DB pension kicks in. From then the drawdown will step down and 2 years later once SP kicks in the drawdown will be very modest.



So welcome views from others on what is a reasonable level to move into bonds etc. Are there any rules of thumb etc to use as a starting point.



Thanks

Sea_Shell

I_want_to_break_free wrote: »

Hi,

I plan to start to using flexible drawdown from April 2020. Value of fund is over £500k



I've stress tested by cash forecast and all looks OK. I'm not thinking of de risking to some degree my pension fund. I plan to draw on this heavily for the next 7 years until a DB pension kicks in. From then the drawdown will step down and 2 years later once SP kicks in the drawdown will be very modest.



So welcome views from others on what is a reasonable level to move into bonds etc. Are there any rules of thumb etc to use as a starting point.



Thanks

Maybe best if you start your own thread, then you'll get advice specific to your circumstances.

DairyQueen

I_want_to_break_free wrote: »

Hi,

I plan to start to using flexible drawdown from April 2020. Value of fund is over £500k



I've stress tested by cash forecast and all looks OK. I'm not thinking of de risking to some degree my pension fund. I plan to draw on this heavily for the next 7 years until a DB pension kicks in. From then the drawdown will step down and 2 years later once SP kicks in the drawdown will be very modest.



So welcome views from others on what is a reasonable level to move into bonds etc. Are there any rules of thumb etc to use as a starting point.



Thanks

Per Sea Shell's suggestion - start a new thread. I'll happily chip-in. We are in a similar situation to you and I have just positioned our portfolio for drawdown.

xylophone

I notice that another poster ( https://forums.moneysavingexpert.com/discussion/6041804post 9) has given a favourable mention to these people

https://www.investaccpensions.co.uk/

Sea_Shell

Woo-hoo!!

Just booked our first trip, post-retirement. We're off down to Dorset on Monday for 4 nights.

Bargain, as we had £60 worth of Tesco/Hoseasons vouchers too.

The weather looks like it's going to hold up too. Studland beach here we come!!!

Arkers

Sea_Shell wrote: »

Woo-hoo!!

Just booked our first trip, post-retirement. We're off down to Dorset on Monday for 4 nights.

Bargain, as we had £60 worth of Tesco/Hoseasons vouchers too.

The weather looks like it's going to hold up too. Studland beach here we come!!!

Congratulations.....what area of Studland naturist or clothed!!