discobay

I will be eligible to withdraw my UK pension soon and as I understand the rules I can take 25% tax-free and the remainder will be taxed with tax allowances taken into consideration. Being non-resident for tax purposes I should get my tax back but that's not why I'm asking.
If I leave the pension will it grow better than withdrawing it and placing it in a high interest bearing savings account? I only intend to leave it for a few years 10 at most. I know this sounds like a "how long is a piece of string" question but it's probably easily answered by someone who has done this or monitors how UK pensions have been performing.

OzTennis

I don't know enough about private UK pensions to comment other than:

Is there such a thing as a high interest account in the UK if you withdrew it and re-invested it?

Surely anyone would only put savings in an account covered by the £75K per person FSCS scheme and the highest rate moneysavingexpert gives is 1.4% for 1 year up to 2.01% for 5 year with tax to pay on this at the appropriate rate. You'll see 5% offered but not FSCS protection which I'd want personally. This all points to leaving a pension pot.

Ironically Brexit and the plummeting pound has lowered the FSCS guarantee (which is 100K Euros) from £85K to £75K at the beginning of this year and further weakening of the pound will in theory lower this again once it's reset 1st Jan but that's another story and after Brexit is completed the UK government will have to set up another scheme which isn't linked to EU membership and expressed in the local currency relative to the Euro.

discobay

Thanks. Of course I wouldn't be leaving the withdrawn funds in a UK account. Overseas accounts offer me more. Appreciate your comments though.