SIPP and Income Draw Down Advise ?

[travelininstyle]

Hello Members - this is a question for the Financially astute out there.
I have a friend whom last year at 55 years of age,for financial reasons took his 25% tax free lump sum from his Sipp and moved the rest into an Income Draw Down,with the same Sipp provider.
A few months ago,he left the company we both worked for and has a reasonably large (100k) pension with,that he is free to move - the pension is with a not very spectacular provider and has poor fund choice,so,for convenience,he wants to move this to his Sipp provider - the question is, is that can he elect to put an early retirement age (as the current pension retirement age is 65 on the ex.company scheme) and take another lump sum from this second pension transfer - or does it have to be invested in the Income Draw Down portion of his Sipp account - for convenience and fund choice,he is still going to transfer it anyway - but,what are his possibilities ?


Many Thanks

 

[travelininstyle]

Hello Members - this is a question for the Financially astute out there.
I have a friend whom last year at 55 years of age,for financial reasons took his 25% tax free lump sum from his Sipp and moved the rest into an Income Draw Down,with the same Sipp provider.
A few months ago,he left the company we both worked for and has a reasonably large (100k) pension with,that he is free to move - the pension is with a not very spectacular provider and has poor fund choice,so,for convenience,he wants to move this to his Sipp provider - the question is, is that can he elect to put an early retirement age (as the current pension retirement age is 65 on the ex.company scheme) and take another lump sum from this second pension transfer - or does it have to be invested in the Income Draw Down portion of his Sipp account - for convenience and fund choice,he is still going to transfer it anyway - but,what are his possibilities ?


Many Thanks

Hello - anyone ?

 

[John]

I know of a good pension IFA if required... PM if so.

(I am not linked to them - I am just more than happy to relentlessly recommend reputable helpful businesses which I come into contact with!).

 

[Chrishazle]

I would ask the SIPP provider that he is currently with. Mine is with Hargreaves Lansdown, and I think they would give me free advice (as an existing investor with a decent chunk of money with them).