• Welcome to the LegalBeagles Consumer and Legal Forum. Please register to get the most out of the forum. Registration is free and only needs a username and email address.
  • LegalBeagles® is a free forum, founded in May 2007, providing legal guidance and support to consumers and SME's across a range of legal areas.

    Please do not post your full name, reference numbers or any identifiable details on the forum.
  • A free service which provides vulnerable consumers the ability to record their personal circumstances at a given point in time when they are looking to protect themselves against further debt or related financial problems. This is done either by self-exclusion from credit and financial promotions or to slow down the credit application process.
    Vulnerable consumers can register for FREE

    REGISTER

    Check if the Debt Collection Agency/Debt Purchaser contacting you is using the VRS register.

    CHECK NOW
    .

Pension Drawdown

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Pension Drawdown

    Hi, I have attached a letter from the Greater Manchester Pension Fund in respect of my mother.
    My dad died so part of my dad's pension was transferred to my mother from the Greater Manchester Pension Fund.
    My mother also has a pension with the Greater Manchester Pension Fund.
    The Greater Manchester Pension Fund has advised that in respect of my dad's pension my mother can either leave it as it is getting a regular payment, or she can draw it all down. She was told she can not draw down part of it. So is this true? How much tax would she pay? Could she transfer it to some other investment schemes and draw down part of it then. If so would she be able to draw down 25 percent tax-free? Are there any other options available to her?
    In respect of my mother's pension, the Greater Manchester Pension Fund has advised that because the pension pot is worth more than £30,000 she can not draw any of this down? They said £30,000 is the inland revenue limit?
    I have attached the letter.
    Any advice on what my mother can do with her pension pot. Cheers for the anticipated upcoming advice.
    Attached Files
    Last edited by rumpole2018; 4th November 2019, 13:44:PM.
    Tags: None

View our Terms and Conditions

LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.

Announcement

Collapse
1 of 2 < >

MONEY & DEBT

Help and support with all issues related to finances. If you’d like information on sources of free, regulated, debt help and advice you can visit the Money Advice Service. It's an independent service, set up by the government to help people make the most of their money.
2 of 2 < >

Warning


Scammers are after your pension pot.


They know you can now access your savings in new ways and will try to lure you with promises of upfront cash and one-off 'deals' with guaranteed high returns.


Learn how to spot the signs and give yourself the best possible protection against pension predators by following this five-step guide.
See more
See less

Court Claim ?

Guides and Letters



Search and Compare fixed fee legal services and find a solicitor near you.

Find a Law Firm


Loading...
Working...
X