Follow this topic
Q&A » Debt
I'm 62, self-employed and don't contribute to any of these pensions.
Report
0You can take the various pensions at different times, within the rules of each scheme.
It is quite common to delay taking some pensions when for instance you might have retired early and have some part time work. In this instance you may well only want to draw on enough pensions to top up the part-time pay, while leaving the others so as not to suffer from the effect of drawing a pension early.
Posted on 26 September 2008 |
Love 0 loves
Report
0There are no rules that state you have to take all your various pension schemes at the same time. It's entirely up to you.
However, I would say, if you're planning on buying an annuity with your pension - which I assume you are - some annuities companies have minimum purchase prices and may not be keen to take on business at £4K and £5K.
As you say, it may be sensible to combine your two smallest pensions and take an annuity using both funds with one provider.
Make sure you shop around for the best annuity rates too!
Posted on 26 September 2008 | Love 0 loves
Report
Sign in or register to post an answer.
Register with lovemoney.com to start asking and answering questions on Q&A.
Get started nowRegistered already? Great! You can just sign in to ask and answer questions.
Sign in
Retweet
Comments (
Facebook