Property News · January 8, 2016

Most British savers fully cashed out pension pots on retirement after rule changes


Financial Conduct Authority study finds 68% of pensions accessed between July and September were cashed out, raising concerns over investment decisionsMost British savers retiring between July and September last year fully cashed out their pension pots after rule changes, the financial markets regulator said, feeding concern they are not seeking financial advice. Under the new rules announced in April 2015, individuals no longer need to buy an annuity, or income for life, at retirement with their pension savings and can instead buy more flexible retirement products or take it all out as cash. Continue reading…

Source : theguardian.com
Read more…Most British savers fully cashed out pension pots on retirement after rule changes

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