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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.
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
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