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Best provider for inherited pension

topyam
Posts: 271 Forumite


Am able to transfer my late husband's pension (approx £110k)
Options given to me by the current provider are
Options given to me by the current provider are
1. Take all as cash
2. Buy a guaranteed income
3. Transfer to another provider
4. Take a flexible income
As he was under 75, I receive it tax free. I am 44.
Provider is L&G atm. No idea what the current fees are.
Looking for the best option financially to make the most out of this money. And 1 and 2 don't appeal really.
Wondering whether to just transfer this inherited pension to another provider. Are some providers better than others for this? Considering fees and ongoing costs too.
0
Comments
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Is this DC or DB pension?
If you dont know what L&G fees are, how are you going to compare it with other proviers fee?
I wonder if transfering this kind of pension will impact its tax free status.0 -
Looking for the best option financially to make the most out of this moneyWhich best fits your objectives and circumstances? (none of which you have mentioned)Wondering whether to just transfer this inherited pension to another provider.On what basis? (there may be good reason but you would be looking at justification for doing so)Are some providers better than others for this?Yes. However, it depends on what you are after. One person's "better" may not be important to another person.I wonder if transfering this kind of pension will impact its tax free status.it doesn't. It has its own classification. However, not all plans will support beneficiary drawdown.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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