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IFA and my 25% tax free lump sum

Dukes_of_hazard · 2024-05-21 21:16:03

I have recently asked my IFA to arrange the payment of the 25% tax free lump sum from my DC pension, which I would like to take to pay off some debts including my mortgage. They said it was not as simple as that and that they would need to justify it. They have now asked me for lots of info about my financial…

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ader42 Posts: 328 Forumite

25 July 2024 at 2:00PM

Just to update and put my friends situtation to bed, Aviva ended up being helpful. As the pot was split into 4 different funds, each sub-pot with a value below £30k they authorised the transfer without a financial advisor so it now all sits in friends SIPP and he is free to take his TFLS of 25% and drawdown as and when it suits.

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