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Cash or Pension

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Moderators: Casa, archigabe, CR001, push, JAJ, ca.funke, Amber, zimba, vinny, Obie, EUsmileWEallsmile, batleykhan, meself2, geriatrix, John, ChetanOjha

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djlocker63
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Joined: Tue Apr 12, 2022 4:36 pm
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Cash or Pension

Post by djlocker63 » Tue Apr 12, 2022 5:14 pm

Hi

I have £35000 in a income drawdown account from a pension I transferred in 2018. I can access the money any time I want and withdraw as little or as much as I want.

It does not pay a regular monthly amount like a Pension would its more like an investment account as the funds are invested.

I don't know whether to put it as cash savings or pension on the application. I only get yearly statements so cant provide 6mths, although on request they can provide a more up to date statement. I can provide a bank statement showing money paid into my bank account from the income drawdown account.

If I put it as pension it asks me how much I get per year so I don't think I can use that option.

Any help much appreciated.

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CR001
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Re: Cash or Pension

Post by CR001 » Tue Apr 12, 2022 6:36 pm

What application is your query related to exactly?
Char (CR001 not Casa)
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