So I have had a Virgin pension since 2002, and now thinking of using it as draw down, guess what you can't. You have to take out all of it, 25% tax free and the remaining 75% with is taxed at a very high rate. which as you can imagine is not good. I am now transferring it to a proper pension provider, which will cost me at least 1% of the value (Pot) if not 3%. :-(
Reviewed on: 27th April 2023
