SIPP drawdown after lump sum

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Fred Bloggs replied

29 August 2017, 23:48
Originally posted by Unix View Post

I don't plan to, just considering putting all excess cash into it as Im getting good returns and want to compound it longterm. But wanted to know if I would be forced to buy an annuity or could drawdown as I please.

Fine then, you'll have no problems. HMG rules are quite draconian around future contributions if you draw income, even GBP 1 from your SIPP. Taking the tax free lump sum, however, is fine.
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northernladuk replied

29 August 2017, 22:46
Google not working in your neck of the woods?

Last edited by northernladuk; 29 August 2017, 22:55.
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Unix replied

29 August 2017, 20:18
Originally posted by Fred Bloggs View Post

+1. You may care to consider the consequences for further contributions to your SIPP if you draw down income as well as taking the 25% lump sum.

I don't plan to, just considering putting all excess cash into it as Im getting good returns and want to compound it longterm. But wanted to know if I would be forced to buy an annuity or could drawdown as I please.
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Fred Bloggs replied

28 August 2017, 23:31
Originally posted by SimonMac View Post

Yes

+1. You may care to consider the consequences for further contributions to your SIPP if you draw down income as well as taking the 25% lump sum.
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mudskipper replied

28 August 2017, 19:12
https://www.hl.co.uk/partners/search/drawdown-guide
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Unix replied

28 August 2017, 18:08
Originally posted by SimonMac View Post

Yes

Thanks mate.
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SimonMac replied

28 August 2017, 17:41
Originally posted by Unix View Post

Good evening,

What are the rules regarding taking money out of your SIPP after the 25% tax free lump sum? If it's invested in funds etc can you just withdraw as much as you want whenever you want and it's taxed as income?

Yes
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Unix started a topic SIPP drawdown after lump sum

28 August 2017, 17:19
SIPP drawdown after lump sum

Good evening,

What are the rules regarding taking money out of your SIPP after the 25% tax free lump sum? If it's invested in funds etc can you just withdraw as much as you want whenever you want and it's taxed as income?
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