Cheers
@Stevo 666 for the advice. I'm looking to pull x2 DB aka final salary pensions and then invest after pulling the 25% tax free bit. I'm trying to get it so if I croak it the OH gets 100% of what's left and not a crappy widows pension oh and mitigate this shiteshow government from stealing anymore. BUT sadly very few companies will deal with this and if they do they have your pants down cost wise.
@TLW1 Hope everything sorted.
taking the tax free lump from db/fs is simple, if you've got more than one might be best to take the full lump from whichever has the smaller value, that'll give them less incentive to mess you around
if you want to extract the db pot(s) and move to a sipp, you are required to get professional advice if the amount is non-trivial - make sure it's a serious advisor, not some box-ticker on commission
afaik you need to extract from the db scheme(s)
before taking any pension income from them, i.e. you can't take some pension then change your mind
for ip2016 calculation, to get pot value of a db scheme, hmrc use the value of expected annual pension payment at 2016, times 20
but for prospective transfer out, you have to request the 'cash equivalent transfer value' from each scheme, you can do that any time and as often as you like, so consider doing it now to get an idea (plus the providers may take a while to do it)
you could use current estimated pension x 20 to make a wild guess at cetv, but it could be significantly different to the real one
