Pensions freedom is great – just be careful how you use it

November 1, 2016 | 5years | Retirement Planning News

Don’t be too keen to take money out of your pension pot

Budgets are boring – financial journalists hate them. The speeches are too long; they mostly contain policies that fiddle around the edges and which have been flagged way too far in advance, and on the odd occasion that something comes as a surprise, it turns out to be not very interesting once you get into the detail.

But every now and then, a chancellor says and actually does something that changes people’s lives. So it was with George Osborne’s Budget of March 2104 and the introduction of pension freedoms. He announced that he was totally over the “patronising view that pensioners can’t be trusted with their own pension pots”.

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