phil752   10 #25 Posted January 17, 2018 Nah only equivalent to bank interest rates unless you get really lucky. ---------- Post added 17-01-2018 at 17:19 ----------   I am in contact with 3 IFAs. They don't charge for initial advice. I'm at a stage now where i know almost as much as them.  well from sept got 25,50, 1000 and 25 in Jan on 25000, so I guess I'm beating the banks, but as you say it is the luck of the draw. Share this post Link to post Share on other sites Share this content via...
mossdog   10 #26 Posted January 17, 2018 well from sept got 25,50, 1000 and 25 in Jan on 25000, so I guess I'm beating the banks, but as you say it is the luck of the draw.......bloody hell! We have the maximum and have received peanuts in that time!.......do you have a relation that works there? Interestingly I would like to know how Ernie works.I suspect it is not totally random but programmed in a very explicit way to keep as many on board as possible! Share this post Link to post Share on other sites Share this content via...
cgksheff   44 #27 Posted January 17, 2018 What have you against a drawdown? Share this post Link to post Share on other sites Share this content via...
blackydog   40 #28 Posted January 18, 2018 What have you against a drawdown?  DB scheme that's closing. I have nothing against it and would probably choose that option if available. Share this post Link to post Share on other sites Share this content via...
cgksheff   44 #29 Posted January 18, 2018 (edited) DB scheme that's closing. I have nothing against it and would probably choose that option if available.  There are several schemes that put your funds into investments and allow your pot to grow whilst you drawdown. Because you would be transferring into a pension vehicle, you would avoid the tax payable if you take your DB pot as cash. Most of the large insurers offer such facilities. PruFund Flexible Retirement Plan is one. They can only be accessed via an IFA.  There is nothing to stop you transferring a DB pot, but the regulations require the IFA to have DB certification and not all have this. The information that the regulations require them to get from the DB fund can be like pulling hens teeth. You may end up becoming an "insistent client" and having to instruct the IFA to go ahead after signing a disclaimer. Edited January 18, 2018 by cgksheff Share this post Link to post Share on other sites Share this content via...
blackydog   40 #30 Posted January 18, 2018 There are several schemes that put your funds into investments and allow your pot to grow whilst you drawdown. Because you would be transferring into a pension vehicle, you would avoid the tax payable if you take your DB pot as cash. Most of the large insurers offer such facilities. PruFund Flexible Retirement Plan is one. They can only be accessed via an IFA.  There is nothing to stop you transferring a DB pot, but the regulations require the IFA to have DB certification and not all have this. The information that the regulations require them to get from the DB fund can be like pulling hens teeth. You may end up becoming an "insistent client" and having to instruct the IFA to go ahead after signing a disclaimer.  Yes agree. Thanks Share this post Link to post Share on other sites Share this content via...