Fidelity - Withdrawing Tax Free Cash
Discussion
I have a SIPP - Pension Savings Account with Fidelity, I have it in 5 separate investments.
I'd like to take a relatively small percentage out from it (I'm 57) and have a few questions which despite calling Fidelity and doing my own research I'm still a little unclear.
My best option seems to be to use the Drawdown route (as opposed to UFPLS) as I just wish to take some of my 25% allowance but leave the rest as it is.
What happens to my investments from that point on, reading about it seems to intimate that a new account is created called a 'Drawdown account' where the rest of the 25% gets deposited but this is where I don't really understand what happens.
In simple terms, I just wish to withdraw a small % as tax free cash (taking a small amount from each investment) and then leave the investments as they are .
I'd like to take a relatively small percentage out from it (I'm 57) and have a few questions which despite calling Fidelity and doing my own research I'm still a little unclear.
My best option seems to be to use the Drawdown route (as opposed to UFPLS) as I just wish to take some of my 25% allowance but leave the rest as it is.
What happens to my investments from that point on, reading about it seems to intimate that a new account is created called a 'Drawdown account' where the rest of the 25% gets deposited but this is where I don't really understand what happens.
In simple terms, I just wish to withdraw a small % as tax free cash (taking a small amount from each investment) and then leave the investments as they are .
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