Reply To: Consolidating personal pensions into a SIPP

[Vincent Haines]

Julie, I have recently begun to take some of my dividends as income to supplement my main – occupational – pension. Having the (hopefully) secure income gives me the confidence to accept the low-to-medium(?) risk that the HYP strategy carries. I am still reinvesting the majority of my dividends in order to support an increasing income as time goes on, and am comfortable with the idea of ‘drawing down’ some of the capital if necessary (but not yet!). Dont forget the State Pension too – although you might have to wait until youre about 80 to qualify (if it even still exists by then!). Good luck with whatever you decide.