We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Retirement soon
VWTransporter
Posts: 2 Newbie
Need some advice. I have two DC pensions, one with Scottish Widows and one with Standard Life.
The SW one is already in drawdown and i have taken the 25% tax free lump sum. It is worth around £76k. The other is worth £20k and i intend to take the tax free lump sum from this one.
My question is what is the easiest way to combine them and buy an annuity?
The SW one is already in drawdown and i have taken the 25% tax free lump sum. It is worth around £76k. The other is worth £20k and i intend to take the tax free lump sum from this one.
My question is what is the easiest way to combine them and buy an annuity?
0
Comments
-
Get yourself an IFA to advise you. I understand this is how most annuities are sold.2
-
There have been posts on this subject on the forum which have indicated that you might get a better deal on an annuity through an Independent Financial Adviser.
https://adviserbook.co.uk/
Tick "confirmed independent" and other options when the menu comes up.
Otherwise, I suppose that as an existing customer, you might approach SL and enquire as to whether you might take your PCLS from the SL policy then transfer your pension in drawdown to SL in order to buy an annuity with the combined fund.
https://www.standardlife.co.uk/retirement/options/annuity
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards