CAN I STILL GET UP TO 25% TAX FREE?

NOT_THE_TAXMAN

Thanks everyone for the help and advice.  I will be asking WTW about transferring to another scheme.

zagfles

NOT_THE_TAXMAN said:

OK I've now done some further checking with WTW (and waited the usual time for a response).  WTW confirm that my "funds were crystallized when you took your first withdrawl from scheme".  I have no knowledge or recollection of ever being told this, prior to taking any withdrawl.  Now, previous to WTW, the Pension provider was Lifesight.  I still have the documentation and have now been through everything provided to explain my options before taking my pension.  AT NO TIME WAS IT MADE CLEAR THAT IF I STARTED MONTHLY WITHDRAWLS THAT I WOULD LOSE THE 25% TAX FREE IF I DIDN'T TAKE IT ALL BEFORE STARTING WITHDRAWLS.  It does appear that I had very poor and incomplete advice from Lifesight on what options were available.  So that's where I am.  I would be grateful for any advice on whether I can challenge the "poor advice" given at the time by Lifesight, in order to be able to take my remaining 25% without touching the remaining fund.  Also any advice on whether the Pensions Ombudsman may be any help in this matter.

Thank you in advance
David

This can't be correct - if funds were crystallised on taking the first payment then how come they've made subsequent payments for 3 years with 25% tax free. That is only possible from uncrystallised funds.

You need to get back to them and get someone who knows what they're talking about. Some providers (WTW is one IIRC) complicate matters by transferring funds into a separate account for drawdown, but that separate account isn't necessarily all crystallised funds.