I'll be 61 this year so haven't decided whether I'll bother working again (in a pensionable job) or retire. That leaves me with 2 options afaik. I have a relatively small pension pot of circa 250k and have been asked to choose what happens next so it's defer or bond I guess. Some pointers would be nice.
- What happens to the deferred pension regards investment ?
- Does it stay in a low risk scheme or just cash ?
- Will I still get 25% tax free anytime if I select the DB or how is it calculated ?
- Is the difference between the DB and PRB that it can be invested again (as oppose to 2 above) ?