We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Notify other pensions?
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie


Back ground, i am in the process of cashing in three pensions pension A is the biggest and B and C are both a lot smaller, pension A has already paid out, but they told me that I have to notify B and C within 91 days or risk the wrath of HMRC, now I haven't made contributions to B for 30 years and C for 23 years, the paperwork from A suggest that I only have to notify the other two if I am making cont.
So my question is...which is it, do I have to notify or not?
Thanks in advance for any help.
So my question is...which is it, do I have to notify or not?
Thanks in advance for any help.
0
Comments
-
How are you accessing these pensions? 'Flexibly' (even if it is 'gimme the lot now'), or are you cashing in as 'small pots'?0
-
In 2 cases taking the lot as cash, in the other 25% plus a small pension is the option available as its a section 32 that won't allow me to take all the cash as I have total pots over 30k.0
-
Are the two you are taking wholly as cash each under £10K?0
-
No pension A has a value of £38k the other under 6k and the section 32 a total value of 11k0
-
Technically you do need to notify, because you've triggered the Money Purchase Annual Allowance, meaning you can only make a maximum of £4K tax-relievable contributions each year (including any tax relief), and the administrators of any money purchase scheme(s) you belong to would need to monitor etc etc.1
-
Ok thanks for that will do so.0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.4K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards