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PP advice for a relative - annuity or drawdown?
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Maybe to avoid breaching LTA or to put into ISA for tax free income or to pay off mortgage?thriftytracey said:Health conditions would improve annuity (depressingly).
I fail to understand why people are taking their 25% tax free lump sum in one go. There would be tax to pay maybe pushing people into a higher tax bracket.
Mind you I have seen a lot of brand new Motorhomes on my travels. Anecdotally, many retirees helping out their grandchildren. Worst case cashing in pensions to help them out. Crazy.0
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