Small pension pot advice required pls

[MrOrange]

I have a small pension pot (£30k) that matures in a few weeks time when I hit 55. It's from 30 years ago and I had actually forgotten about it (non-contrib when I was working PAYE). I've been self-employed for the last 25 years.

I have no other pensions but don't plan to retire until they put me in a box. I pull a decent/high income from my business and have 20 times more in other liquid investments/cash etc. I am maxed out with Premium Bonds, earn more than I spend and don't really need anything in terms of capital purchases for the foreseeable future.

So, should I a) simply move the whole of the £30k into a new pension (say H&L) with lower fees and leave it alone to grow, b) draw the small 25% tax-free lump and stick it in equities with IM or H&L, c) leave it with the Pru, or d) a mixture

I'm feeling that I should draw the 25% tax-free now and stick it in an ISA, with the rest going into a H&L pension.

[xeny]

If you don't need the 25% now, wouldn't it make sense to put the whole things into a low cost SIPP, and take the 25% later when it is 25% of a hopefully larger sum?

[MrOrange]

xeny said:

If you don't need the 25% now, wouldn't it make sense to put the whole things into a low cost SIPP, and take the 25% later when it is 25% of a hopefully larger sum?

Good point. Ta

[98elise]

As you don't need it I would stick it into a SIPP and invest in funds such as Lindsell Train GE, or Fundsmith.

As you're a high earner why not stick a small amount each month to top it up. The 40% tax break is hard to ignore. You can do this as a company payment which is very tax efficient.

You never know how life is going to turn out so having a lump sum tucked away is always a good thing.