Private Pensions. What circumstances would allow me to withdraw the total fund value rather than buy annuity.

I understand that if the fund value is below a certain level you can withdraw it all rather than buy an annuity. But as I will also have a company pension does the value of this also get taken into the equation or not?

拢15,000 is the magic figure. If the total of ALL your pension funds is less than that and you are over 60, you should be able to take it as a lump sum. 25% of it is tax free, the rest is taxable as income. Speak to your pension provider. They'll send you the forms.

Your company pension does count towards the 拢15,000. If you have not 'retired' it, it will have a value. If you have, then times your annual received amount by 20.

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2nd opinion to previous answer, is on the money exactly. I to am a IFA

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