We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
Maxed out TFC what to do with small uncrystallised pot
TheGreenFrog
Posts: 376 Forumite
I have maxed out my TFC from my SIPP (moving funds into drawdown) and have a small uncrystallised pot left over. I am wondering whether to move that into drawdown or leave as is? Is there any difference? It seems to me there is not on basis of current rules, but I suppose gov could decide to fiddle with the laws in a way which treats one differently from the other?
0
Comments
-
What do you want to achieve?Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0
-
Nothing really - just wondering if there is a preferable course of action. I will draw down as I need funds - may need to start doing so this tax year. Can't dee any difference in the crystalised and non-crystalised when TFC has been taken.0
-
A course of action would only be preferable if it helped you to achieve what you wanted to achieve. In the absence of any clear objective (join the club - I've lost count of how many people ask what would be 'best' for them without giving any indication of their goals or preferences), you aren't likely to go far wrong whatever you decide to do, especially as this is a pot of modest size.TheGreenFrog said:Nothing really - just wondering if there is a preferable course of action. I will draw down as I need funds - may need to start doing so this tax year. Can't dee any difference in the crystalised and non-crystalised when TFC has been taken.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!0 -
Have you made use of the small pot route?I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.1 -
The uncrystallised part is over £10k and I also have the crystallised drawdown pot, but thank you for pointing this out as could be relevant as I draw benefits.MallyGirl said:Have you made use of the small pot route?0 -
A decent pension provider will carve out three £10K pots for you from the whole in order to utilise the small pots option.1
-
Will investigate!DavidT67 said:A decent pension provider will carve out three £10K pots for you from the whole in order to utilise the small pots option.0 -
Well HL do it.1
-
Blimey - that sounds like straightforward and obvious tax avoidance! probably means it's perfectly legal! What's the point of a small pot rule if you can just make all your pension into small pots?DavidT67 said:A decent pension provider will carve out three £10K pots for you from the whole in order to utilise the small pots option.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards