Pensions Pensions Pensions

Were you born in 1961?  From age 55, you have greater flexibility with your pension pot.  Savers now have 3 main choices :

  1. People that want access to their entire fund can draw the whole amount immediately.
  2. People that want the security of an annuity will be able to purchase one.
  3. People that want to keep their pension invested and drawdown from it over time will be able to do so.

Unfortunately, people who have already bought annuities are currently excluded from the new freedoms.