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Reinvesting in a pension product
Comments
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Neither - if transferred, it will be on the basis it is an inherited pension and the 'same' rules will apply: ie it can be taken at any age and because the SSAS owner died before the age of 75, will be wholly tax free. The new provider must be prepared to accept such a transfer - they don't have to, but most will.ali_bear said:Surely if it is inherited tax free then putting it into another pension is not advisable, because it then will be locked away until retirement and then be subject to taxation? I would consult an IFA. But first consider how much of that cash you would want to take now.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
If you read the linked thread you will see that there are specific beneficiary pensions, with different rules.ali_bear said:Surely if it is inherited tax free then putting it into another pension is not advisable, because it then will be locked away until retirement and then be subject to taxation? I would consult an IFA. But first consider how much of that cash you would want to take now.0 -
OK so it just has to go into the right type of pension. Every day is a school day!A little FIRE lights the cigar0
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Yes, I only learnt that from the other thread !ali_bear said:OK so it just has to go into the right type of pension. Every day is a school day!0 -
Indeed - for all us, including those who have spent many years working in the industry. Things never stand still...ali_bear said:OK so it just has to go into the right type of pension. Every day is a school day!Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
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