Pensions - can I do this?

[CAPP0]

I'm mid-50s and have 5 pensions from across my working life so far.

One of these has a pot value of c. £150k and a projected pension of a massive £4.5k pa.

Without going into the pitfalls and extra costs etc etc (at this point - be good to have that discussion later), what I want to know is, in principle could I move that £150k to a SIPP and use it to buy rental property? If so, (a) can I do that now, ie, buy the property/ies and (b) if yes, then what happens to the income whilst I'm still under retirement age? Rationale here being that I believe, based on experience of close friends, that I can approximately treble the return on my £150k, albeit with many caveats, and still have access to the capital in the future if required (via sale of property).

I do plan to ask a pension advisor to review my full overall pension situ but this question is a fundamental one for me.

Thanks.

[CAPP0]

Hmm, I don't really want to go into commercial. What's the thinking behind no resi then?

[CAPP0]

sidicks said:

CAPP0 said:

I'm mid-50s and have 5 pensions from across my working life so far.

One of these has a pot value of c. £150k and a projected pension of a massive £4.5k pa.

Without going into the pitfalls and extra costs etc etc (at this point - be good to have that discussion later), what I want to know is, in principle could I move that £150k to a SIPP and use it to buy rental property? If so, (a) can I do that now, ie, buy the property/ies and (b) if yes, then what happens to the income whilst I'm still under retirement age? Rationale here being that I believe, based on experience of close friends, that I can approximately treble the return on my £150k, albeit with many caveats, and still have access to the capital in the future if required (via sale of property).

I do plan to ask a pension advisor to review my full overall pension situ but this question is a fundamental one for me.

Thanks.

Not directly related to the question you asked, but be aware that:

1) I suspect your quoted annuity increases with inflation - that can be substantial over time and is something sometimes overlooked

2) at retirement you do not have to take an annuity, but most importantly, if you do want an annuity, you have the opportunity to take out your annuity with the most competitive provider, so you might achieve a much higher rate than that quoted.

As highlighted, you can hold property within a SIPP, but not residential property.

Odd, one of my replies is missing. I was saying, at retirement age if I draw down the pot (and pay the tax) then I guess it's mine to do with what I will, including resi property?

[CAPP0]

Thanks for the input chaps. It's certainly my intention to seek proper advice, I just wanted to know whether I'm p***ing in the wind or not before I set that meeting up!