"Small Pot" benefits question

GunJack

MallyGirl said:

jdl920p said:

Thanks @MallyGirl .  From what you are saying if the new scheme doesn't allow it to be treated as a small pot I could open a SIPP and transfer it there? That would be good.

Of course, as @Marcon says it is under current legislation.  There will be at least 5 more budgets before I can access my pension, with the ensuing ongoing press speculation!

There is also the risk that it grows so much that it is no longer a small pot

I went with HL SIPP as they (currently) will spin £10K off from any size of uncrystallised pot and allow drawdown of it under the small pot rules. Can do this up to 3 times.

Thanks for the info, it'll make the phonecall to HL to do this for Mrs.G-J's sipp far easier!! 

BTW, which HMRC form is it for reclaiming the tax from a small pot withdrawal, is it a P800 (I think I've heard mentioned on the forum somewhere)?