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25% tax free lump sum ?
fuzzy9999
Posts: 9 Forumite
Hi all, should i take my 25% tax free lump sum ? I have an Ageon retire ready pension , the value has dropped over £10,000 since 26th January 2020 ? The total in the scheme is now £64,058 , it was £74,689. What does everyone think ? Could I lose it all ? If I take the 25% would it be safer in the bank ?
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Comments
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should i take my 25% tax free lump sum ?
Pick an answer. Yes, maybe or no. That is all we can say based on what you have told us.
What does everyone think ?We cannot give any opinion because you haven't told us what you retirement objectives are.
Could I lose it all ?Yes. Nuclear war, zombies, invasion from space. etc.
If I take the 25% would it be safer in the bank ?Probably not but again, we don't have the information to say. You haven't given us much to go on.
When are you retiring? what income will you need in retirement? What provision have you got? etc etc.
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 -
yes, take out as much as you can and invest in toilet rolls0
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Why do you think it would be 'safer' somewhere other than your pension scheme?0
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Suggest you read some of the many other threads on the same topic
https://forums.moneysavingexpert.com/discussion/6116805/im-hoping-i-should-leave-well-alone#latest
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