Monthly ufpls

SVaz

Why not just crystallise a year’s income, take the tax free cash then use monthly drawdown? That’s what my Wife does with HL. One online form to fill in a year, then send a secure message requesting your monthly drawdown amount, job done.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81904779#Comment_81904779

Is that a good idea at HL? Don't they have separate charges for the SIPP and the drawdown account?

Elvie100

https://forums.moneysavingexpert.com/discussion/comment/81904495#Comment_81904495

I have regular monthly UFPLS from AJ Bell. You do need the cash in the account and they move it several days beforehand. It is automatic and if I wanted to change the amount, I can just email them. They also email me a letter with the figures for the LSA and LSDBA.

poseidon1

I am with ii, and in due course planning on UPFLSs on a quarterly basis.

However, I will not have to manually raise the cash when required, due to aspects of the portfolio regularly generating monthly/ quartely/annual divs and interest. So a constant flow of income cash generated from the natural yield of the underlying investments.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81904596#Comment_81904596

I am pretty sure that HL and Fidelity will just cash in investments for you if there is insufficient cash available in your account. They have some kind of protocol for which ones they cash first. Neither does monthly UFPLS, but as said you can use drawdown instead.

Have you a retirement date fixed ??

QrizB

Have you a retirement date fixed ??

I'm pretty sure there's odds being offered on Poly market for the OP's retirement date!

LHW99

II needs you to have the cash you want to withdraw already available in the account, so you would need to sell down the STMMF before requesting the withdrawal. Hence most people don't fill in monthly forms, but go for one or two withdrawals to a cash / savings account and move the money from there monthly.

HL split crystallised and uncrystallised funds and charge 2 x fees as a result. II gives a "nominal split" between the two - so only one set of fees, but you can't have different funds in the two parts unlike at HL.

SouthCoastBoy

https://forums.moneysavingexpert.com/discussion/comment/81904978#Comment_81904978

No date set yet, just considering my options.

squirrelpie

https://forums.moneysavingexpert.com/discussion/comment/81904839#Comment_81904839

That's true but HL don't charge for cash in an account, so if you sell a year to cash and take the tax-free 25% then you can request monthly drawdown of the 75% as suggested with no additional cost (but no additional income from the cash being invested of course).

MallyGirl

but they do pay interest on the cash