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First year drawing down pension
I turn 55 in February when I can access my SIPP. I am possibly looking at taking £16000 per year from tax year 2026/27.
My question is, assuming I have enough headroom to put in £16000 gross to my SIPP at the end of this tax year, can I put it in and leave it as cash and drawdown that for year 2026/27 or do I have to invest it then sell before drawing down?
Comments
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You never have to invest it in a SIPP if you don't want to.
Is MPAA definitely not going to be a concern in future tax years?
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MPAA wouldn't be an issue. I wouldn't be adding anywhere near £10000 in any years going forward.
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