I have an NHS pension and a SIPP. I have exceeded the current lifetime pension allowance and my NHS pension will be reduced as a result of the lifetime allowance tax charge.
My financial advisor has told me that if I crystallise my SIPP before drawing my NHS pension, the value of the SIPP will not be included in the testing of my lifetime allowance on my NHS pension thereby reducing the lifetime allowance tax charge on my NHS pension.
Is this correct
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