How to take tax free amount in flexi drawdown

Notepad_Phil

Chickereeeee said:

Also, II do not allow you to say e.g. "I want 50% of my pot crystallised". You have to give them a £ amount. This could be around 50% when you initiate the process, but could be a bit more or less, depending on market movements, when crystallisation  actually occurs.

If this is a big concern then as I believe ii do not charge you for going into drawdown then you could always crystallise via 2 or more stages. E.g. crystallise the £ value of say 35% of the pot first, then the £ value of say 12% of the original pot value then the final smallish value which brings it to what you wanted. That way any 'bit more or less' will in all likelihood be smaller than if you did it in one go.

I use UFPLS for my pension income with ii so I've never done the above, but I think it's fine to do it that way with no negatives (apart from the longer length of time it will take to get to the percentage you want).

Chickereeeee

Notepad_Phil said:

Chickereeeee said:

Also, II do not allow you to say e.g. "I want 50% of my pot crystallised". You have to give them a £ amount. This could be around 50% when you initiate the process, but could be a bit more or less, depending on market movements, when crystallisation  actually occurs.

If this is a big concern then as I believe ii do not charge you for going into drawdown then you could always crystallise via 2 or more stages. E.g. crystallise the £ value of say 35% of the pot first, then the £ value of say 12% of the original pot value then the final smallish value which brings it to what you wanted. That way any 'bit more or less' will in all likelihood be smaller than if you did it in one go.

I use UFPLS for my pension income with ii so I've never done the above, but I think it's fine to do it that way with no negatives (apart from the longer length of time it will take to get to the percentage you want).

Yes, that's the way I am doing it.