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    • Aventus
    • By Aventus 11th May 18, 9:19 AM
    • 3Posts
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    Aventus
    Pension Transfer Question
    • #1
    • 11th May 18, 9:19 AM
    Pension Transfer Question 11th May 18 at 9:19 AM
    Hello all, a pension newbie here.

    Just a quick question in regards a possible future pension transfer.

    I have a SIPP account with Hargreaves Lansdown through the company i work for and a Prudential with profits pension from when i opted out of serps.

    My question is, can i transfer the Prudential pension into my SIPP account once it goes into drawdown? or do i have to transfer it before?

    Many thanks
Page 1
    • dunstonh
    • By dunstonh 11th May 18, 9:53 AM
    • 95,806 Posts
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    dunstonh
    • #2
    • 11th May 18, 9:53 AM
    • #2
    • 11th May 18, 9:53 AM
    It is probable that your Pru plan doesnt offer drawdown. In which case you would have to transfer it first.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Aventus
    • By Aventus 11th May 18, 12:46 PM
    • 3 Posts
    • 0 Thanks
    Aventus
    • #3
    • 11th May 18, 12:46 PM
    • #3
    • 11th May 18, 12:46 PM
    Hi, yes that's correct. The Pru plan doesn't offer drawdown, only an annuity i believe. I was just wondering if there was a time limit on when i could transfer it to the SIPP.

    Ideally, i wished to leave the Pru plan where it is while i put my HL SIPP into drawdown for X number of years then transfer it later.

    Are you saying this is not possible once my SIPP goes into drawdown?

    Thank you.
    Last edited by Aventus; 11-05-2018 at 12:48 PM.
    • MallyGirl
    • By MallyGirl 11th May 18, 2:07 PM
    • 3,046 Posts
    • 8,073 Thanks
    MallyGirl
    • #4
    • 11th May 18, 2:07 PM
    • #4
    • 11th May 18, 2:07 PM
    My question is, can i transfer the Prudential pension into my SIPP account once it ['it' being the SIPP] goes into drawdown? or do i have to transfer it before?

    Many thanks
    Originally posted by Aventus
    it is all about the punctuation!
  • jamesd
    • #5
    • 11th May 18, 4:08 PM
    • #5
    • 11th May 18, 4:08 PM
    What you do with one doesn't affect the other's choices so it's fine to put all or part of the HL pot into drawdown and leave the Prudential one as it is.

    It'll probably be best to transfer the Prudential one to HL before taking anything from the Prudential one. This way you'll end up with just one drawdown pot. Take first and it'd stay separate with combining not allowed even if all of the money is at HL.
    • Aventus
    • By Aventus 12th May 18, 7:44 AM
    • 3 Posts
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    Aventus
    • #6
    • 12th May 18, 7:44 AM
    • #6
    • 12th May 18, 7:44 AM
    Thanks for clarifying jamesd.

    I'm relieved to know that i can transfer the Pru pension after i have started the HL SIPP drawdown. I was unsure of the rules.
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