What the government calls "pension freedoms" will be in place from Easter Monday. But anyone nearing retirement would do well to note the drawbacks, as well as the advantages. Taking money out of your pension could still land you with a large tax bill. From next year, a new limit on the total size of a pension pot could mean your income from an annuity will be less than you expect. Many in the industry fear a new wave of fraud. It will soon become harder to qualify for a full state pension. Without proper advice, the changes could make it easier to run out of money before you die. The 2015-16 pension changes explained in 10 questions - BBC News Couple months old now but well worth a read.
Nice one Dave, it seems my other Thread is not so far off, There IS a chance, it could run out. Funny how dreams can wake us up a little. JP
Seems to me the conservative government are out to p*ss everyone off again except the rich. They just given themselves a 10% pay rise when everyone else gets 1-2% I'm sure when those arseholes retire they will be laughing all the way to the bank with their nice big pension pots.
Lets hope their Pots run out about the same time as ours, I wonder how they would spend 200 peso per day wages as these people have too. JP
