3 personal pensions advice

stronginthesun

i have two small old work pensions totalling about £15000 . and one main personal pension which is about £150000 . could i take the whole lot of the small ones as cash paying nominal tax . then in a couple of years take the larger one 25 percent the rest into drawdown ?

Albermarle

Yes you could do that.

If you wanted to make more than £4K pension contributions a year in the period between cashing in the small pensions and drawing down the larger ones you will have to be careful how you cash the two smaller ones in ( ideally via the small pots rule )

xylophone

https://www.pruadviser.co.uk/knowledge-literature/knowledge-library/small-pots-defined-benefit-trivial-commutations/

Dazed_and_confused

could i take the whole lot of the small ones as cash paying nominal tax

Yes you could do that.

Given the op has not provided any information about their other taxable income it's impossible to know if the tax would be "minimal".

It could be anything from £0 to £5,175.

stronginthesun

Dazed_and_confused wrote: »

Given the op has not provided any information about their other taxable income it's impossible to know if the tax would be "minimal".

It could be anything from £0 to £5,175.

the op hopefully will be retired