Three small old pension pots

no longer employed so I’m not currently paying into one.

Even with no relevant earnings, you could still pay up to £2880 into a pension and receive tax relief of £720.






https://www.pensionsadvisoryservice.org.uk/content/publications-files/uploads/Taking_small_pensions_Detailed_SPOT008_V1.5.pdf

The fact sheet linked above explains what can be done with accessing these small pots from each of the providers.

Otherwise you might consider opening a SIPP with HL say and making a £2880 contribution and also asking HL to consider a transfer in of the small pots?

You might wish to continue to contribute your £2880 until age 75.

Coco's_mum wrote: »

Hi,

Bit of a newbie here, so apologies if this is a stupid question - what's the difference between this (trivial commutation) and drawing your small pensions down?

Thanks

1) If you drawdown money beyond the 25% tax free lump sum the maximum annual contribution into your DC pensions whilst getting tax relief is reduced from £40K to £4K, Trivial commutation does not affect the £40K limit.

2) Many pension schemes do not support drawdown but will allow trivial commutation.