Do I need an advisor to drawdown my tax free cash?

xylophone

Could you explain exactly how many pensions (excluding state pension) you have and what kind of pensions they are?

Who administers /provides these pensions?

Have you obtained a state pension forecast?

https://www.gov.uk/check-state-pension

Albermarle

Alicante6 said:

That's really helpful, thank you. 
The fund was separate because it was a company pension. Its returned 10% in the last year. I was planning to take my 25%  personal tax allowance from it. I've read that Labour my scrap this benefit. I've decided not the make the withdrawel for the moment and look at handing the fund over to my advisor to see if he can switch it to a better performing fund. It's £150k and the advice fee is over £2k for doing this. Is this inline with market rates? 

This has been discussed a few times on this forum, The consensus is that the chance of Labour scrapping the 25% tax free is about zero. Maybe the current max limit of over a quarter of a Million Pounds might get reduced, but probably not.

LHW99

I think the idea of scrapping the 25% TFLS has now been rejected by Labour after some huffing and puffing?

Albermarle

LHW99 said:

I think the idea of scrapping the 25% TFLS has now been rejected by Labour after some huffing and puffing?

I would guess that pensions being such a complicated issue, they will probably want to a full review and not tie themselves down with too many manifesto promises. However stopping the 25% tax free seems one of the more very unlikely options.