Drawdown pension

dunstonh

You might be interested.  I emailed Standard Life with my questions. Apparently I am "one of [Standard Life's] higher value clients" (£330,000 pot)

Remember that Standard Life today is Phoenix.   It is not Standard Life of old (which is now Abrdn).   All the higher net worth stuff was kept by Abrdn.    Phoenix took on the old fashioned plans.

"The charges on your Flexible Retirement Plan will remain the same once you access your plan."

If they are porting your charging over then that is a good thing as long as your charges are competitive to begin with.   If you are on an SL plan charging 0.3% then great.  if you are on a 1% plan then its not and an alternative option should be investigated.

VXman

topcat105 said:

Malchester said:

topcat105 said:

Malchester said:

I have transferred my DC pension to PensionBee and am doing what you want to do. I do it on a monthly basis by answering a few questions online, inputting how much I want to withdraw and then 6 or 7 days later the funds are in my bank account. The only issue is that the available plans with PensionBee are rather limited but that is not a problem for me. Look on their website pensionbee.com. As part of the transfer you will be assigned your personal 'Beekeeper' who you will deal wih about any issues you have.

This is what I want to do as I am now 55.
I transferred my old pensions to PensionBee but I can't see anything in my app about making a withdrawal ?

I'm not sure you can arrange withdrawals through the app (I can't) but you can definitely do it through the website as that is how I do it each month. On the website there is a heading for withdrawals 

Brilliant ! Thank you.
Do I need to provide all 3 documents (passport, driving licence and identity card) that they are asking for ?
I don't have an identity card, my passport is out of date and I don't have a photo driving licence, only a paper one.

There must be another way to do it as you are not required to have a driving license or passport. it might involve utility bills or similar. Why we don't have a UK identity card I do not know. Would make life so much simpler for honest citizens and might even solve some illegal stuff too.

barnstar2077

VXman said:

topcat105 said:

Malchester said:

topcat105 said:

Malchester said:

I have transferred my DC pension to PensionBee and am doing what you want to do. I do it on a monthly basis by answering a few questions online, inputting how much I want to withdraw and then 6 or 7 days later the funds are in my bank account. The only issue is that the available plans with PensionBee are rather limited but that is not a problem for me. Look on their website pensionbee.com. As part of the transfer you will be assigned your personal 'Beekeeper' who you will deal wih about any issues you have.

This is what I want to do as I am now 55.
I transferred my old pensions to PensionBee but I can't see anything in my app about making a withdrawal ?

I'm not sure you can arrange withdrawals through the app (I can't) but you can definitely do it through the website as that is how I do it each month. On the website there is a heading for withdrawals 

Brilliant ! Thank you.
Do I need to provide all 3 documents (passport, driving licence and identity card) that they are asking for ?
I don't have an identity card, my passport is out of date and I don't have a photo driving licence, only a paper one.

There must be another way to do it as you are not required to have a driving license or passport. it might involve utility bills or similar. Why we don't have a UK identity card I do not know. Would make life so much simpler for honest citizens and might even solve some illegal stuff too.

https://www.citizencard.com/

I was advised by my solicitor to get one when a careless driver broke my ankle and I needed to prove who I was for my claim. It worked for me.