needsomeinfo
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I'm 54.
I have a pension from a previous job with approx 400k.
If that is accessible since I am over 50 would this scenario be beneficial to me?
Mortgage (tracker) has about 85K outstanding. I recently increased payments so, it would clear in about 6 years.
I have another pension with my current job.
If I accessed some of the pension from the previous job to clear the mortgage now and then maxed out my AVCs into my new pension would the tax free element of AVCs mean that there was a net benefit?
Any downsides to this?
I have a pension from a previous job with approx 400k.
If that is accessible since I am over 50 would this scenario be beneficial to me?
Mortgage (tracker) has about 85K outstanding. I recently increased payments so, it would clear in about 6 years.
I have another pension with my current job.
If I accessed some of the pension from the previous job to clear the mortgage now and then maxed out my AVCs into my new pension would the tax free element of AVCs mean that there was a net benefit?
Any downsides to this?