Any reason to keep this Pension?
Discussion
About 10 years ago my wife opened a SIPP with 1k as she had no private pension. In the end she invested in other ways so didn't put any more money into the pension so its just sat there.
She's now just working part time and will fully retire later this year (at 57) so unlikely to put any more money into it.
Is there any reason to keep the SIPP open? I can't think of any benefits unless she was planning to use carry forward (which of course she isn't)
She will come into a reasonably large sum when we sell our rental properties but that's will likely go into her S&S ISA.
She's now just working part time and will fully retire later this year (at 57) so unlikely to put any more money into it.
Is there any reason to keep the SIPP open? I can't think of any benefits unless she was planning to use carry forward (which of course she isn't)
She will come into a reasonably large sum when we sell our rental properties but that's will likely go into her S&S ISA.
Maybe just to put in every year the 2880 topped up with 720 from Rachel from customer services every year ....say until some future point she decide to empty
My wife has pretty much never worked full time,. and not at all for 20 years . I retired a few years ago a 57 and we both do the top up with no earnings thing. How quick it built up to over 20K in mine, which I will draw in a couple of years before I start my DB pension and take all for zero tax ......
My wife has pretty much never worked full time,. and not at all for 20 years . I retired a few years ago a 57 and we both do the top up with no earnings thing. How quick it built up to over 20K in mine, which I will draw in a couple of years before I start my DB pension and take all for zero tax ......
PM3 said:
Maybe just to put in every year the 2880 topped up with 720 from Rachel from customer services every year ....say until some future point she decide to empty
My wife has pretty much never worked full time,. and not at all for 20 years . I retired a few years ago a 57 and we both do the top up with no earnings thing. How quick it built up to over 20K in mine, which I will draw in a couple of years before I start my DB pension and take all for zero tax ......
Fair point, but even if she closes this one she could open a new one if she wanted to save again into a pension. My wife has pretty much never worked full time,. and not at all for 20 years . I retired a few years ago a 57 and we both do the top up with no earnings thing. How quick it built up to over 20K in mine, which I will draw in a couple of years before I start my DB pension and take all for zero tax ......
She wants to put the 1k towards some additional years on her SP as she's about 7 years short at the moment.
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