Cash or Pension
Posted: 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.
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.