Process for taking partial TFLS in ii

poseidon1

I have a ii SIPP where I may for the first time initiate a UFPLS later in the year. This thread has been interesting in that regard.

Whilst reading ii's guidance came across the following:

https://www.ii.co.uk/ii-accounts/sipp/withdrawal-rules/pension-benefits-cancellation-rights

No doubt this non cancellation admonition and consequences if you choose incorrectly, probably results from the waves of entirely misguided sipp holders who panic each time the popular press stir them up about pre budget speculation affecting the tax free cash option.

Having gone nuclear and elected to take all TFC pre budget, many of these individual may have gone back to their platforms to try and undo their hasty actions.

Not sure if this warning would make any difference in curbing the behaviour of the type of people prone to this sort of impetuosity , but at least they can't say they weren't warned.

dont_use_vistaprint

You're probably right, but aren't they the same kind of people that will probably blast through all the small print clicking next » anyway ?

it's a slightly odd situation we've landed in where with a decent job , generous employer and tax breaks you can amass a 7 figure sum accessible at 55 vs the old way of just getting a PENSION of roughly half your salary when you retired at 65

The process is actually very straightforward so in ii , just needs a tablet or a laptop or all on a phone due to the layout.