The rules governing pensions have changed from 6th April 2015, allowing individuals significantly greater flexibility in the way they release money from their pension.
Not all pension contracts will benefit from these rule changes; however, those that do will also be exposed to greater risks.
Whilst it is always better to seek professional advice before releasing any money from a pension, the government is introducing a free and impartial service to help people understand what their choices are and how they work. This service is called Pension Wise and it is the government’s intention to provide guidance via their website, over the phone or face to face.
It is important to remember they are only providing guidance and NOT advice.
Here is a link to their website – www.pensionwise.gov.uk/