Finance Bill delays retirement, says A J Bell

This is because the majority of pensioners will receive a "better deal" under the new rules compared to retiring under current pension legislation, says Andy Bell, actuary and managing director of A J Bell. For example, many members of occupational pension schemes will be better off under the new regime's rule on taking 25% of the value of their pension as tax-free cash capped at £375,000, says Bell. Currently, a member is only allowed to take 2.25x the pre-commutation pension as a tax-free lump sum (capped at £153,000) - which is in many instances not as beneficial as the coming deal...