Hi all,
I have calculated I have a pension pot that will give me £29000 lump sum which my AVC will cover. My question is what options do I have for the cash balance element.
Plan C
Since 2007
Leaving at age 60
TIA
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Pension help
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RobertT
- EX ROYAL MAIL
- Posts: 6645
- Joined: 09 Sep 2007, 14:26
- Gender: Male
Re: Pension help
1. Use it to fund more lump sum, with the first 25% being tax free.
2. Transfer it out to buy an annuity or drawdown.
2. Transfer it out to buy an annuity or drawdown.
Links to all RM pension related websites are here
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postie2007
- EX ROYAL MAIL
- Posts: 65
- Joined: 20 Oct 2011, 09:46
- Gender: Male
Re: Pension help
Thank you Robert,
Will increase lump sum The amount left is not enough for a decent annuity so will take remainder as cash and pay the tax further increasing my lump sum.
Will increase lump sum The amount left is not enough for a decent annuity so will take remainder as cash and pay the tax further increasing my lump sum.