Switching VEVE to VHVG in SIPP

MDMD

Thanks everyone- I decided to leave the £275k where it is, and the point about it ending up as a sort of retirement income is an interesting one. Ultimately I don’t think there’s a massive benefit from switching.

I may potentially do new investments and put the SSON proceeds into the accumulation version. I do need to revisit whether I can contribute to this pension without jeopardising the ability to take benefits at 55. From the moment those rules were announced I’ve not made any payments or transfers in.

Alexland

MDMD said:

Thanks everyone- I decided to leave the £275k where it is, and the point about it ending up as a sort of retirement income is an interesting one.

Yeah I'm not really suggesting it's a sensible way to draw income in retirement as its low yield and unstable but I like watching a couple of grand getting reinvested every 3 months especially when the amount goes up year on year.

MDMD said:

I may potentially do new investments and put the SSON proceeds into the accumulation version.

It's such a small amount you might as well just add to the VEVE to keep the account simple.

MDMD said:

I do need to revisit whether I can contribute to this pension without jeopardising the ability to take benefits at 55. From the moment those rules were announced I’ve not made any payments or transfers in.

I think you can still contribute but am unsure if they should segregate the funds for a transfer-in. I've not added to mine as age 55 access is too important to my hopes and dreams to take any risks however small.

I do all my new contributions via sal sac into my workplace pension which now offers a developed world fund for 0.20% and a global bond fund for 0.12% so there's no point partially transferring out anymore. It's where I keep my bonds since moving back to them after the revaluation. I don't see enough benefit to be 100% equities anymore.