Is there any point in not drawing tax free 25% of this plan which is approximately worth £32,000 and investing it elsewhere, even in a basic savings account? The statement last year is an increase of approx £2500 from the year previous, and seems to say that the " pay value when I turn 75 (!) " will be approx £34,000.
It says that it is a "mixed investment 40 to 85% shares pension".
I honestly do not remember paying into this at all when I was working. I'm 62 now. I also have a pension group policy worth about. £ 7,500 from the employer at the time, I haven't worked for them since 19 94.
Thanks for any advice.
Currently I do not have any other pension apart from the NHS pension which I started last year. I am also able to claim state pension when I'm 67 for the full amount.
I own my own home outright and have no dependants. No loans, debts and also have approx £29,000 savings.