You are reading a single comment by @muthesius and its replies.
Click here to read the full conversation.
-
Yes, you can open a SIPP with one of the big names, buy a fund or mixture and arrange a drawdown. There's loads of You Tube videos out there about the market.
Search Best Pension 2024 you get something like this which compares the top names :-
-
Fairly straight forward to draw down, 25% is tax free the rest is subject to income tax, which maybe at high rate if drawn down rapidly, might need a bit if planning.
Airhead
wildwest
@muthesius
An elderly relative of mine has a c. 80k pension pot to put in a sipp and do income drawdown.
They would drawdown over a relatively short period due to age and have no other assets apart from their residence so to my mind they should put the money in a fund more or less like a high interest savings account
Does such a thing exist / is this in fact a terrible idea?