pension freedom

Steve Webb: the biggest pension freedom trap to avoid

The pension freedoms implemented in April 2015 have been one of the most popular changes to pensions in recent years. Until the changes, most people had little choice but to turn their pension pot into an income for life by purchasing an annuity. But with interest rates at historically low levels and a poorly functioning annuity market, many were getting disappointing value for money.

Just 1% of grandparents are taking advantage of this state pension perk

Four years of pension freedom: the unintended consequences

It’s four years since the introduction of pension freedoms giving retirees greater flexibility around when and how they access their retirement savings. While there is little evidence that people have blown the lot on Lamborghinis, there are some lessons to be learnt from our pension spending habits.

The biggest challenge of ‘pension freedom’ revealed

Three in four retirees say the biggest challenge they face when they come to access their pension is knowing how to construct an income-generating portfolio at retirement.

The finding was revealed by Aegon from a poll of 250 financial advisers, ahead of the fourth anniversary of the pension freedoms later this week (6 April).

Do you need a helping hand to navigate pension freedoms?

The pension freedoms introduced in April 2015 saw a dramatic change in how we save for and fund our retirement. The key change was around unrestricted access to pension funds, handing individuals the opportunity to put themselves in the pensions driving seat. But navigating these new opportunities is easier said than done: below are two examples that spring to mind.