Quick, simple and specific pension question ❓

£12k

Cheers @Rubber_Buccaneer, appreciated.

Another quick question.

Ignoring other factors...

Can the company dealing with my personal pension force me to seek financial advice before I withdraw all/part of it?

Thanks.

From my experience / knowledge (I took my pension early about 2 years ago)...
No. Or at least, not usually. They can rrecommend. But not force.
There's some cases where it maybe can be forced if say you're a vulnerable adult.  But for regular grown ups, no.

(I didn't get IFA, as for me the maths sums were blindingly obvious / easy for me as an engineer, and what I was doing with the 25% tax free lump)

i think youre forced to take FA before withdrawing a certain amount from a defined benefit pension.   not sure how much that is tho, im sure others on here will know.

More than 30k from a DB scheme

Thanks guys. Much appreciated as always.

They can’t 'force' you to take advice, but the information you mention above says it’s a defined contribution arrangement, in which case they must signpost you to guidance from MoneyHelper and you will have to confirm to them either that you have taken the guidance, or that you do not want the guidance. This is a recent change to the regs, which is probably why some of the posters above don’t know about it.

Great extra info, cheers 👍