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Inherited Pension Options

TWoman
Posts: 1 Newbie
I have inherited my husbands pension with Pru. It is now in a Cash SIPP and as he died before aged 75, it is tax free. The illustrated growth rate is 1.72% (mid). I am wondering if it is possible/advisable to withdraw funds from it and add to my own pension - to avail of the tax allowance ? As I am 66, I feel I should keep the money within a pension for IHT purposes.
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I am wondering if it is possible/advisable to withdraw funds from it and add to my own pension - to avail of the tax allowance ?On death, the beneficiary can either take it as tax free lump sum. Tax free income (or ad-hoc withdrawals) or don't touch it until they need it. In all cases, it cannot remain in the same pension. It should be transferred to a pension in your name.
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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