daleks.at.the.monaco
Vital 1st Team Regular
I have 3 small pensions that will mature when I am 65. These will product 'pension pots'.
Traditionally, I would invest the pension pots into an annuity, get a pension and the annuity fund would lapse when I die and be taken by the annuity company.
The pension reforms of 2015, mean that I can take 25% tax free from the pension pots under MPAA. I have seen something about pension pots under £10k being exempt from this rule (from Steve Webb of Royal London ex Pensions Minister - this is another matter from my dilemma)
I am lucky, I do not need the pensions from the small pensions, I do not immediately need the 25% tax free drawdown.
I have heard that I can put my pension pots into an Investment Trust that would produce income and will not expire when I expire. So I can pass the cash onto my kids. IHT willing.
Anybody know anything about this??
Traditionally, I would invest the pension pots into an annuity, get a pension and the annuity fund would lapse when I die and be taken by the annuity company.
The pension reforms of 2015, mean that I can take 25% tax free from the pension pots under MPAA. I have seen something about pension pots under £10k being exempt from this rule (from Steve Webb of Royal London ex Pensions Minister - this is another matter from my dilemma)
I am lucky, I do not need the pensions from the small pensions, I do not immediately need the 25% tax free drawdown.
I have heard that I can put my pension pots into an Investment Trust that would produce income and will not expire when I expire. So I can pass the cash onto my kids. IHT willing.
Anybody know anything about this??
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