Pension question - 3 pensions - taking tax free lump sum out of one?

J

JenJen

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I have three separate pensions (not much in each) and I am thinking of taking a tax free lump sum out of one. I would then need to set up a new policy for the balance and as I now live in France I have been told that there may be a tax implication here. Can anybody inform me what this would mean and is it worthwhile taking the money out.
 
It is not very straightforward and you should proceed with caution. The easiest route to take is purchase an annuity. Otherwise, you need to ensure you get good advice on it.

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Thank you so much Steven. I have only seen your response now. It seems to be a minefield. Should I be thinking about taking lump sum now and then taking out an annuity here in France? What then happens with my two other policies? Should I transfer them here?
 
It is a minefield. It isn't something that I can advise you on on a forum. You have to look at your own circumstances and do what is best for you.
 
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