Pension changes: 'savers should wait to cash in nest egg'

Pensions minister suggests savers could benefit from a 'decade of innovation' if they take their time

Piggy bank pensions

Savers who suddenly have access to their pension pot next week might benefit from waiting for up to ten years before withdrawing their cash, pensions minister Steve Webb has suggested.

From 6 April, people aged 55 and over, with a defined contribution pension, will have more freedom over how they take money from their retirement fund.

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