Moving from a drawdown pension

ABSP

I have an unlimited drawdown pension (It didn't used to be but we needed to take more money from it one year and it got transferred to being an unlimited drawdown arrangement).  Everytime I withdraw from it, I have to pay tax on the amount.  We no longer need to take money out of this and can set it aside for 5 years until we retire properly. 

Can I transfer it back to being a non drawdown pension?  Better still, I would prefer to close the whole thing and transfer it away from this company (as I've not been that impressed with them) and move it somewhere else. I am concerned that if I do this, I would have to pay tax on the whole amount before the transfer is made.  Thank you

dunstonh

I have an unlimited drawdown pension

What is one of those?  - surely every pension with drawdown functionality is limited by the funds within them and therefore cant be unlimited.   I am guessing this is marketing name from a provider?    Is it capped drawdown, flexible drawdown/flexi-access drawdown?

Can I transfer it back to being a non drawdown pension? 

Your pension can be made up of crystallised funds (those you have drawn the 25% against) and non crystallised funds.   You dont have specific pensions that do drawdown only nowadays (and haven't for some years).

So, any pension that offers drawdown functionality should accept it.

Better still, I would prefer to close the whole thing and transfer it away from this company (as I've not been that impressed with them) and move it somewhere else. I am concerned that if I do this, I would have to pay tax on the whole amount before the transfer is made. 

You dont draw it out as you would pay tax on it.  You transfer it instead.

Albermarle

I presume you already took the 25% tax free cash at some point?
If so any income taken from the remainder will be always subject to income tax . You can not 'undrawdown ' it to mangle the Engish language. However should be no problem to transfer it to another provider . There will be no tax to pay because you are not withdrawing it , just changing provider . Normally nowadays there are no transfer costs either .
Of course if you then withdraw from the new drawdown pot the money will still be taxable in the same way as now.
Or as you say you could just leave it alone and not withdraw from it with either a new or old provider.