Pension interpretation advice please

[retro pedro]

I've got a private drawdown pension pot currently active. I've taken the 25% tax free drawdown and only take lump sums out that equal by personal tax allowance residue after my government benefit Old Age Pension payments.
y pension pot is currently with Aviva. I've got two accounts, (a) being Pension with no funds in it, (b) Pension Drawdown with my pot in it. Recently I had an end of Tax Year prompt email from Aviva advising that I do have a option to put money into my Pension account and the government will add 25% to the new money in the Pension account. I'm sure I read somewhere that I'm not allowed to transfer money from my Drawdown account into the Pension account because I've already drawn the 25% tax free lump.
I do realise Pension Fund investments carry a risk of falling in value as well as increasing if you get it right.
My question is, if I invest part of my Drawdown Pension pot into a managed fund, and it does return a profit/dividend on the investment, can I put the 'Profit' into my Pension account as 'new' money. This 'new' money will then be recognised as a legitimate addition to the Pension account and the government will duly add the 25%.

[atticus]

Take advice from a reputable pension adviser, not an internet forum.

[retro pedro]

Why’s that, the idea of asking on a forum is that somebody might know how the mechanics of the pension rules work and will share the knowledge.
To be clear, I’m not seeking investment advice, just asking what the rules are.

[smintram]

I have a drawdown account with Aviva. I don't think you can do it with a Defined Benefits pension, but different rules apply to a Defined contribution pension, which I'm guessing you have. I believe you can transfer to another pension, but I wouldn't withdraw it first, or you'll be taxed on it. see below.

[Sam101]

If this were with a Sipp then the funds in your drawdown account can be invested in shares or funds, with less volatility, My two accounts in Uncrystalised Sipp and drawdown account both work this way. You should have received advice about what to do with your pension when you retired, as it may be that the Sipp route would have been a better option for you.

As a matter of interest, why did you take the full 25% tax free lump sum in one payment and what was the size of the whole pension, as selecting the right option could depend on it's size?

[retro pedro]

If this were with a Sipp then the funds in your drawdown account can be invested in shares or funds, with less volatility, My two accounts in Uncrystalised Sipp and drawdown account both work this way. You should have received advice about what to do with your pension when you retired, as it may be that the Sipp route would have been a better option for you.

As a matter of interest, why did you take the full 25% tax free lump sum in one payment and what was the size of the whole pension, as selecting the right option could depend on it's size?

The full pot was £190k. The pension's were remnants of an old previous employer Occupation Pension Scheme. Apart from investment profit returns, no new contributions had been paid in for a number of years. I consolidated all the different plans into a single Aviva account. Took the full 25% because I had a few exotic holiday on the wish list. Pandemic as put paid to that for the last couple of years.

[Sam101]

Thanks for the update. It's a pity you took all the tax free cash as you have missed out on being able to increase the tax free amount in the years ahead, which I have done myself, by taking less than 25% and allowing the rest to grow.

Howeve, you can still increase the remaining taxable fund depending on your need to draw from that, but it will just be increasing the taxable fund and only grow according to what it is invested in?

Is the balance invested in shares, funds or cash at present? Shares are the most volatile with higher risk than funds,where the spread on many investments in the fund often performs with more security, but nothing is guaranteed.

Do you still have a financial adviser connected to your pension arrangement and if so, when was the last time he or she updated you with a progress report?

Is the pension still with one company and in an occupational scheme, or have you moved it to a sipp with another company. If so which one.