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USE OF PENSION LUMP SUM TO INVEST IN ISAs
Comments
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Why take it out of the pension in the first place if the only thing you are going to do with it is invest it? It was already invested!1
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In my case it's because the lump sum was tax free and ISA fees are lower than pension fees. And because you never know when a government might fiddle with the pension rules (again).taxigaz said:Why take it out of the pension in the first place if the only thing you are going to do with it is invest it? It was already invested!0 -
In my case it's because the lump sum was tax free and ISA fees are lower than pension fees.Most platforms do not charge any differently across their wrappers. So, if that is an issue with you, then it's likely that a better provider should be selected, and you should not make decisions on the limitation of your chosen provider unless there is absolutely no other viable choice.
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.1 -
Not for the first time, you've made a completely wrong assumption. The ISA is with a different provider, one with zero fees unless you trade.dunstonh said:In my case it's because the lump sum was tax free and ISA fees are lower than pension fees.Most platforms do not charge any differently across their wrappers. So, if that is an issue with you, then it's likely that a better provider should be selected, and you should not make decisions on the limitation of your chosen provider unless there is absolutely no other viable choice.
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