Pensions/drawdown etc

[GhostofTarbera]

Take out £250K spend £50K per year on fun stuff, if you make it till sixty you are nearly deed anyhoo, so no need for a lot of cash after that

Long time deed


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[psychocandy]

so how big are everyones? pots

[northernladuk]

so how big are everyones? pots

What does that have to do with you?

[psychocandy]

What does that have to do with you?

not forcing anyone to answer its not compulsory

[Paralytic]

What does that have to do with you?

Fair enough. Why don't you go first.

[hugebrain]

Drawing the 25 per cent tax free does not trigger MPAA. Spend it on cocaine, hookers or daffodils. No difference.

Draw down even 1p in income after taking the 25 per cent and you trigger the MPAA.

Can you spend it more shares in a SIPP and get more free money from the government?

[Paralytic]

Can you spend it more shares in a SIPP and get more free money from the government?

You really should do your own research/reading - you'll learn a lot more than asking part questions here.

Here's a starter (random selection after a google search):

Three benefits of staggering your 25% tax-free pension lump sum

Taking 25% Tax-free Cash from your Pension

If I take a 25% tax free pension lump sum, can I still pay in GBP40k a year? | This is Money

[psychocandy]

Fair enough. Why don't you go first.

HL SIPP - £125K
EX-employer pension - £25K
Current Umbrella pension - £42K
NEST - £2

Not brilliant....

[Fred Bloggs]

Can you spend it more shares in a SIPP and get more free money from the government?

Assuming the MPAA is not triggered the answer is a qualified yes. The qualification bring that there are recycling rules that prevent a double dose of tax top up. It's complicated so you need to research this now you know what you look for.

[GhostofTarbera]

HL SIPP - £125K
EX-employer pension - £25K
Current Umbrella pension - £42K
NEST - £2

Not brilliant....

Plus 10k a year from gov


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