Pension Freedom: savers withdraw £1 billion

Since the chancellor, George Osborne announced the government’s new Pension Freedoms in 2014, savers have withdrawn over £1 billion from their pension funds. In response to questions in parliament, Osborne said 60,000 people had made use of the new freedoms, which allows savers to access their whole pot from the age 55. It’s the first time the government has disclosed …

Five reasons to buy a pension annuity

After a lifetime accumulating pension savings, you reach the point when those savings must provide a regular income for your retirement. Recently the options have become much broader, but the most traditional route – the annuity – is refusing to go quietly. Here’s why. Consider your pension fund, built up over a working lifetime. On retirement, you could simply draw …