If you are approaching retirement and want to take money out of your pension, the Government has announced a number of changes that may affect you.
The changes affect how much you can take out as a lump sum, depending on the size of your pension pots, as well as the amount you can draw down from your pension.
If you would like to know more about these changes, or want to know how they affect you, we recommend you contact your pension provider or financial adviser. You can also contact the Money Advice Service or The Pensions Advisory Service for further information and guidance.
Money Advice Service
Helpline: 0300 500 5000
www.moneyadviceservice.org.uk[1]
The Pensions Advisory Service
Helpline: 0845 601 2923
www.pensionsadvisoryservice.org.uk[2]