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Appropriate Fees for a Pension Pot?
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Thanks again to you all for the helpful observations. To Zagfles’s questions, the other reasons to change sooner rather than away from the current Reassure policy (in addition to no drawdown) is that, if I died, my wife would get taxed on the whole pot. Based on all of your feedback, the “policy charges” for it are also quite high at about 1.2%.
Pension rules on death are not specific to providers. If you die before age 75, your spouse gets the pension free of tax regardless of provider. If you are aged over 75, then its taxable when they draw it subject to their income tax rates.
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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