ABI warns of looming pension age cut-off date

The minimum age changes from 50 to 55 on 6 April with HMRC rules requiring pension benefits are set up by this date. It will affect people planning to access pension benefits who are between ages 50 and 55. The ABI says those who wish to access their benefits must ensure their policies are set up in time, which means advisers need to act now to ensure applications are received by providers well in advance of the deadline. It says it has worked with pension and annuity providers to help coordinate the changeover and set a provisional cut-off date for applications. Advisers are...