Hi I am 64 and ceased work. I have an existing retirement income account with a balance of around 1.5mil. Can I add another 300K into that account?
If not, can I close that retirement income account and then open a new retirement income account with the 1.8mil in it? Is this affected by the 1.9 transfer balance cap?
You can add to an accum account if your TSB is under 1.66 M
Income stream accounts can never accept contributions
You can add to an accum account if your TSB is under 1.66 M
Income stream accounts can never accept contributions
Thanks - can I close down the income stream account and then open a new one with all the funds in it?
Hi @RobneyB,
Yes, you can stop and re-start with the new balance.
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