'Sense has prevailed' - Early access pension snub welcomed

Trivial commutation rules dictate how and when investors can transfer or withdraw small pension funds. Mike Morrison, head of pensions, AXA Wealth, said there was little demand from consumers for early access. "Our research found only a third of consumers wanted to access their pension pot early," he said. However, Morrison added there is a strong need for the provision of a wide range of savings vehicles to help investors save but still have access to emergency money. Vince Smith-Hughes, head of business development at Prudential, said: "Sense has prevailed. Our analysis comple...