Pension Help

farrahr

Help looking for some advice.

I have 3 small private pensions, 2 with ReAssure and 1 with Nest. The 2 are worth around £30K each and the other £16k.

I am 72 and claim a state pension as well already receiving a private one. (I left my job this year in May)
I want to withdraw the tax free lump sum, (sorry if this sounds stupid) but Can I claim 25% from each one of them tax free? They can't be combined as I have already checked.

I have already spoken to pension wise but they were not very clear.

Thanks in advance, any information would be helpful and welcome

SVaz

Yes of course you can.
The only thing that can’t be done is taking 25% of the whole sum from only one pension.  

dunstonh

I am 72 and claim a state pension as well already receiving a private one. (I left my job this year in May)
I want to withdraw the tax free lump sum, (sorry if this sounds stupid) but Can I claim 25% from each one of them tax free? They can't be combined as I have already checked.

They can be combined.     However, ReAssure pensions tend to come from unwanted books/closed insurers and are not available for new business.    So, it's unusual to be able to transfer into a ReAssure pension, but you can transfer out.

And the answer is yes you can but your pensions may not support that option and may require transferring to a new provider that does.

DRS1

Why can't they be combined?  Are there aspects to the pensions which stand in the way - eg they all have GARs?

Are they all defined contribution pensions?

Haven't they been writing to you for the last 12 or 7 years telling you what you can do with the pensions?

sheramber

adindaspantai said:

Is there any benefit of deferring your state pension, when moving abroad outside EU, CH, NZ, CA?

From this official info from the government, it seems there is no benefit at all (?) I have misunderstood it or the wording is ambiguous ?

https://www.gov.uk/deferring-state-pension/print

"If you move to a country that is not in the list, the extra payment you get will stay the same. It will not go up or down over time" 

Better to start your own threads as your query is not related to the OP’s. 

Brie

adindaspantai said:

Is there any benefit of deferring your state pension, when moving abroad outside EU, CH, NZ, CA?

From this official info from the government, it seems there is no benefit at all (?) I have misunderstood it or the wording is ambiguous ?

https://www.gov.uk/deferring-state-pension/print

"If you move to a country that is not in the list, the extra payment you get will stay the same. It will not go up or down over time" 

There may be tax benefits if you are continuing to work beyond SP age but yes you can lose out if you move outside the UK to some countries.