I have a few questions on Buy out bonds and whether I should take one out or not.
I am currently in a Company DC pension , im in my mid 50’s and my intention is to leave the company next year and life off investments for approx 5 years before setting up an ARF
If I take out a BOB, can I access it at any age I choose ?? (subject to early exit rules of the BoB)
If I take out a BoB , presumably there is a setup cost and an annual fee (are these fees similar to ARF set up / annual fees ?? my fund >800k)
If i take out a BOB ,presumably i can self direct it in a vanguard ETF
Would I be better leaving my funds in the company DC fund, if I Ieft my funds in the company scheme, I would be gone from the company for 5 years before I access my funds and I would be worried about lack of updates possible obstacles that could be thrown in my path 5 years later by trustees/company if change of management.
Any other costs/risks I should take into account ?
I am currently in a Company DC pension , im in my mid 50’s and my intention is to leave the company next year and life off investments for approx 5 years before setting up an ARF
If I take out a BOB, can I access it at any age I choose ?? (subject to early exit rules of the BoB)
If I take out a BoB , presumably there is a setup cost and an annual fee (are these fees similar to ARF set up / annual fees ?? my fund >800k)
If i take out a BOB ,presumably i can self direct it in a vanguard ETF
Would I be better leaving my funds in the company DC fund, if I Ieft my funds in the company scheme, I would be gone from the company for 5 years before I access my funds and I would be worried about lack of updates possible obstacles that could be thrown in my path 5 years later by trustees/company if change of management.
Any other costs/risks I should take into account ?