The underlying investment fund into which the fund invests, the Janus Henderson Money Market Unit Trust, is closing and will be replaced by the LGIM Sterling Liquidity Plus Fund (which is managed by Legal and General Investment Management Limited).
Angela splits ad-hoc pension withdrawals over tax years
Angela has a pension pot of £20,000. She and her husband have a generous retirement income from their employers, so they do not need this pension to live on. Angela decides to take the money as cash, but if she takes it in one go, she will be pushed into paying higher rate tax for that tax year. Instead, she takes out an LFS Cash Fund Drawdown plan and takes her savings over two tax years, so continues to pay basic rate tax.
This example is for illustration only. It should not be taken as advice.