Only 1% of people have chosen to cash in their pensions completely since the freedom and choice reforms took effect last month, according to the country's biggest retirement adviser.
This was because the tax implications of taking the pot as a whole fund withdrawal put people off the option, retirement adviser My Pension Expert said. The radical decision to allow anyone over...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
