Pensions freedom: Reasons to be careful

The new pension freedoms, while giving welcome increased flexibility for consumers to access their pension savings and offering greater opportunity for advisers to engage and offer advice, are likely to create many challenges of which advisers should take note. According to HM Treasury, 320,000 people each year retire with a defined contribution (DC) pension. However, this is expected to be higher as those who deferred buying an annuity after the 2014 Budget seek guidance. The guidance is expected to cover topics such as life expectancy; the various pension products available; long-te...