Pheidippides wrote:Hi All,
210K - SIPP - Single Names and some cash (all my choice) - Now 220
340K - Standard Life - Employer Lifestyle Fund - Now 366
260K - Fidelity - My choice of funds - Now 274
12K - Roy Ldn (2 x 6K Pensions) - Now 214
Total : 822 - Now 874, some contribution, some growth
Pheid
I am now less than 3 weeks away from 55 and my strategy was to take the 25% TFLS on my birthday from each of the four pension holders, reinvest the funds immediately into my offset account and then take the Cash ISA from my mortgage offset and purchase equivalent investments within an ISA wrapper, without losing any market exposure.
I had a Pension Wise appointment this morning. Very thorough, but not hugely more information that I have got from here in the past. I am still left with one question and am looking for some strategy advice. I was told by the advisor that she thought I would be unable to transfer pensions after taking TFLS but before entering drawdown.
I immediately rang AJ Bell, my SIPP provider, to check the timelines for transfers. This is going to make things REALLY tricky.
My Fidelity pension is in L&G Funds so they are likely to be able to transferred and reinvested in a good enough schedule.
Royal London is too small to worry about so I am going to just liquidate and transfer the cash across
My real problem is the Standard Life pension. This fund is definitely not on AJB's list so there is no opportunity to transfer. However the timelines for cash movement are ludicrous, somewhere between 3 and 6 weeks. In theory I could be out of the market for this period, and New Year is often when the market gets a fillip, that I don't want to miss.
Any advice welcome
Regards
Pheid