Hi all First time on and first post so please be gentle! I am due to start receiving my state pension in January. My wife and I currently receive pension credit which we know will stop when I start to receive my pension. I have a private pension pot that I have received advice on, giving me options on annuities and lump sums. One option I am considering is a draw down option where I would only take an amount (after my state pension starts) which would keep me below the total income permitted during the current tax year before any additional tax would be due, accepting tax will be deducted on the lump sum before being paid to me. My question is how this income during the current tax year, IF TAKEN, might be interpreted in relation to the pension credit we have received weekly since April 2015. HMRC will receive a statement of my income for the year and the tax paid and by inter departmental awareness the pension credit dept may say "hang on this person must have under declared his weekly income and we want the pension credit back!!" Can lump sum drawdown of part of a pension pot be equally spread out over a tax year or is it only taken into account from the date it is received. I note that only the govt pension credit page private pensions should be taken into account from the date you can get it - As this is this now 55 is there a possibility that anyone with a pension pot that was being held in reserve till retirement will be affected as it is technically income not claimed. Sorry to be long winded but any help would be appreciated. I have spoken to pension credit and HMRC and my financial advisor couldn't larify the position.

Hi, Just noticed that Minicredit changed their terms and conditions and renamed the 19.50 GBP transmission fee now a drawdown fee. Makes me wonder why? So I thought it is time to reclaim this so I sent them this: "Dear Madam or Sir, I am writing in relation to loans associated to my account, for which I incurred transmission fees which I do not believe are fairly and reflecting the actual costs of fund transmissions. The loans were taken out from from 17 January 2012 to 06 July 2012 The reason I believe that these transmission fees (19.50 GBP for each transmission) are unfair and not reflecting the actual costs of fund transmissions is that these are very high and unclear. Unless you can provide proof that these transmission fees were reasonable and actually incurred, I will expect a full refund of these transmission fees (136.50 GBP), plus 8% interest on these up to 8 August 2013 (14.94 GBP), in total 151.44 GBP, plus daily interest of 8% after 8 August 2013. I look forward to your prompt response to this email. If I have not had a satisfactory response from you within eight weeks of this letter I will contact the Financial Ombudsman Service to formally investigate my complaint. Kind regards" Can't wait for their reply