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Pension holder faces unexpected £3,000 fee to access tax-free cash, highlighting SIPP complexities.
A man with a Self-Invested Personal Pension (SIPP) worth £120,000 faced unexpected costs of £3,000 for new property valuations to access his tax-free cash of £9,000.
After threatening to complain, his provider AJ Bell offered a solution using a recent £30,000 cash payment, avoiding the need for valuations.
This incident highlights the potential hidden costs and complexities involved in accessing funds from SIPP pensions.
3 Articles
El titular de la pensión se enfrenta a una cuota inesperada de 3.000 libras esterlinas para acceder al dinero libre de impuestos, destacando las complejidades del SIPP.