Five unintended consequences of pensions freedom...and how to deal with them

The consultancy identified five dangers in the government's recent pension reforms in its new report When the levee breaks: What next for the UK retirement savings market? The firm looked at what has changed across the at-retirement market since the 2014 Budget, in which Chancellor George Osborne announced he would allow everyone aged 55 full access to the savings in their retirement pot. Here is what the report found:    1. The wild west - or third party pension transfers Pensions minister Steve Webb allowed everyone from age 55 to take their pension savings as cash, whether ...