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Where to invest pension pot?
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Do you mean that your mother had three separate pensions and all three have been transferred into a SIPP with AJ Bell?
You state that your mother is not working at the moment - do you mean that she is on sick leave or that she is unemployed?
You speak of "retirement in two years" - do you mean that she reaches SPA within two years?
Has she obtained a state pension forecast?
https://www.gov.uk/check-state-pension
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@MeteredOut - It's the full amount0
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@MallyGirl - Correct held as cash0
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@xylophone - yes to questions 1, 3 and 4 and unemployed to question 20
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Why on earth did she do that? Did someone tell her to to it?lon_85 said:@MeteredOut - It's the full amount
It seems an really strange thing to do and a very costly mistake.
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 -
Its still in a SIPP as per Xylophones question above.dunstonh said:
Why on earth did she do that? Did someone tell her to to it?lon_85 said:@MeteredOut - It's the full amount
It seems an really strange thing to do and a very costly mistake.1 -
I think maybe what is meant is that the investments were cashed in but they are still held in a SIPP as cash?Prism said:
Its still in a SIPP as per Xylophones question above.dunstonh said:
Why on earth did she do that? Did someone tell her to to it?lon_85 said:@MeteredOut - It's the full amount
It seems an really strange thing to do and a very costly mistake.0 -
Ok. not so bad then. The drip drip of snippets of information is awkward.Prism said:
Its still in a SIPP as per Xylophones question above.dunstonh said:
Why on earth did she do that? Did someone tell her to to it?lon_85 said:@MeteredOut - It's the full amount
It seems an really strange thing to do and a very costly mistake.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 -
Will your mother receive a full new state pension?
Does she live alone and is she in receipt of any means tested benefits?
Does she intend to take benefits from the pension as soon as possible or is she seeking to invest at least until SPA?
When she does take benefits, how does she intend to take them?
Would you wish to accompany her to a Pension Wise appointment?0 -
I’d assumed it was an inherited pot, is that not the case?0
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