With profits pension

Ozro

https://forums.moneysavingexpert.com/discussion/comment/81979076#Comment_81979076

thank you, I will make a note of that

DRS1

I suspect the simple point is that in a normal DC pension when you take the 25% tax free lump sum that means the rest of the pension is crystallised. It seems it may be more difficult to transfer a crystallised pension than a normal pension. I am not sure if that is to do with your Aviva pension or the receiving pension.

When I took my benefits from the 4 Aviva pensions I had, I was buying an annuity with Standard Life (so it is not precisely the same as doing a transfer) but for some reason Standard Life wanted me to take the tax free lump sums from Aviva before the annuity purchase (so they used something called the open market option). I still don't know why but it would be something to discuss with your proposed new pension provider before you do anything to see what they say - especially in case they say they don't accept crystallised pensions.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81979097#Comment_81979097

Basically yes. Potentially less complications if you just transfer out 100%.

LHW99

Also, as @gm0 is saying, some with profits (and other) pensions which were set up a long time ago won't give you all the legal ways you can take a pension (think wanting to view a colour film on a B+W telly).

Best to find out what Aviva actually will let you do on maturity, then decide if you want different.

If you want different, then find a provider that offers that. Or it could be that Aviva can move the pension to one of their modern plans which allow what you want (charges may be different however).

If you need to move it away from Aviva, then your comment "basically I am better to wait until maturity, then transfer my pension to another provider and then take out my 25% if so required rather than take out the 25% with Aviva and then transfer the remaining" probably sums up your best move.