The new pension freedoms that were introduced in April 2015 have transformed the attraction of saving through pension plans, and introduced significant benefits and flexibility for those approaching retirement.

In consequence, we have received a large number of enquiries for help and guidance.  In particular, we have arranged flexible draw down plans for a number of new clients who wish to flexibly withdraw an income from their pension savings. With annuity rates being at an all time low, for many people this will continue to be an ideal solution.

Also, we have had enquiries about taking all the pension fund out in one go, which is usually a total tax disaster, to invest in buy to let. In other words taking money from a tax free fund, paying tax on it, and then paying tax to buy an investment where the income will be taxed!!  It seems that financial planning by the man in the pub is alive and well and a disaster waiting to happen.