DC Pensions - TFLS withdrawal only - Is this right?
Discussion
Am I understanding this correctly if:
I have two DC Pots, one is a Sal.Sac scheme, the other a SIPP and let's say each has £100K.
The SIPP doesn't receive any payments, because of the live Sal.Sac Pot which does.
If I take the 25% TFLS from the SIPP only. I can carry on making payments up to 60K into the Sal.Sac scheme?
I have intention or desire to take any income from the Pots and I want to avoid the MPAA because I'm still working and feeding the Sal.Sac scheme.
So:
I can take the 25K from the SIPP and carry on as I am?
I understand the remaining 75% in the SIPPS is moved into a new Pot, but as I have no need to take income from it. I just ignore it.
Thanks.
I have two DC Pots, one is a Sal.Sac scheme, the other a SIPP and let's say each has £100K.
The SIPP doesn't receive any payments, because of the live Sal.Sac Pot which does.
If I take the 25% TFLS from the SIPP only. I can carry on making payments up to 60K into the Sal.Sac scheme?
I have intention or desire to take any income from the Pots and I want to avoid the MPAA because I'm still working and feeding the Sal.Sac scheme.
So:
I can take the 25K from the SIPP and carry on as I am?
I understand the remaining 75% in the SIPPS is moved into a new Pot, but as I have no need to take income from it. I just ignore it.
Thanks.
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