IFA/SiPP fees

Marnico the first step is to confirm whether it really is a good idea to convert one of your DB pensions to a SIPP at all. Have you received the necessary advice just on that decision? (which you will have to get as it's a legal requirement)

Only once you are certain that's the right thing to do should you then investigate which scheme to go to.

Out of interest how much pa are you looking to give up in exchange for £730 k ?


yes I have had several lots of advice and on balance converting this one to SIPP seemed a reasonable thing to consider, although maybe the IFAs who are most keen do have a vested interest ? the current numbers are full pension £ 22.5 k or reduced pension £ 17.1 k + £ 90 k - the pensions administrator has messed me around with different numbers over last 6 months, but these latest ones did seem to make the SIPP option more attractive - multiple of 33 years on initial annual figure or 23 years if inflated by +3% yoy. I am now 60, and based on family history will do well to last much > 80 !
As I don't actually need the income for another year or so maybe I'll keep it deferred for now and keep reviewing the options ……...