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What happens if I re-invest my money in a retirement annuity when I change jobs?

  • No tax is payable
  • You cannot make any withdrawals until you retire (minimum retirement age is usually 55)
  • You can cash some of your savings, but you may have to pay tax on the cash you take
  • You are also responsible for your decisions. You choose your financial service providers and investment managers. You can transfer your savings at any time to another provider or asset manager
  • You can make ongoing additional contributions with possible tax benefits
  • Costs will vary a lot between different providers. Your ability to negotiate may be limited. Greater flexibility usually comes at a greater cost
  • Minimum requirements will vary between different providers

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