April 6th, 2015
Episode 255 of 1546 episodes
Substantial changes to the pensions system come into force today. People who are retiring no longer have to take out an annuity to provide them with a regular income. They can, in theory, withdraw their entire pension pot in a lump sum and spend on whatever they want. The Chancellor described the changes as the most comprehensive pension reforms in a century. We speak to two financial advisers to ask what people approaching retirement should do now the new rules are in place. Ros Altman is an independent pensions expert.