Vanguard Pension Tax Free Withdrawal

Hal17

Has anyone managed to withdraw funds from their Vanguard SIPP without having to book an appointment with a so called Pension Advisor? 

DeLaSole

My mum has a pension there. The first time she withdrew she needed to do two calls in the process. The second time she withdrew I believe it just needed one. So, no, they've required her to speak to them.

dunstonh

Hal17 said:

Has anyone managed to withdraw funds from their Vanguard SIPP without having to book an appointment with a so called Pension Advisor? 

Vanguard do not have advisers.   Their process is non-advised.  It is just a flow chart style risk warning process that covers their backside.

33scott

I went through the process back in June to access my 25% TFLS, I had to do 2 calls. As stated above its not advice, just a check list type call, then they send a new illustration, then do another call before release.

Hal17

Thank you all for the replies. My wife wants to withdraw her 25% and cannot understand why she needs to speak with anymore about withdrawing her own money. I told her it will be straight forward. 

Albermarle

Hal17 said:

Thank you all for the replies. My wife wants to withdraw her 25% and cannot understand why she needs to speak with anymore about withdrawing her own money. I told her it will be straight forward. 

Many people withdraw money from their pension pot without realising the implications. For example they withdraw too much, too quickly, and then are surprised how fast it has run out .
So the providers are obliged to make sure the client understands the possible risks involved. Plus it covers them in case of later complaints.
Most will carry out this process nowadays online or via written info, but Vanguard seem to be cautious in this area and prefer to talk it through with the client.