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Written on: 06.11.2009 [17:04]
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Mugdha
Mugdha
Topic creator
Posts: 2
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Is there a way to release the drawdown pension part from my SIPP? I don’t mind paying tax I just need the lump sum rather than getting paid every month
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Written on: 10.11.2009 [16:18]
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George
George
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Yes, some SIPP's may allow you to take a year’s drawdown at once, but then you would have to wait until the next year for the next payment.
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Written on: 12.11.2009 [09:57]
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Cofie
Cofie
Posts: 3
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No. If you are over 50 you can Retire and get a 'once and only' Tax free lump sum of 25%. The rest of the fund goes into draw-down (or you can purchase an annuity) then you can only collect a small percentage of the remaining fund per year (typically about 5%).
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