Cashing in your pension will get you the low-down on a drawdown
The over-55s are now free to cash in their pension rather than being obliged to buy an annuity, an income for life.
Over the last year more than 90,000 have shunned annuities in favour of income drawdown, which involves leaving your pension invested for growth and drawing income as and when needed.
However, more than one in five admit they did not understand the risks and more than one in 10 were unhappy with their decision, according to new research from MetLife.
The danger with income drawdown is that if the stock market falls, so will the value of your pension, with one in four... read more
- 07:50 Henry Onyekuru gets UK visa after Arsenal agree £6.8m transfer fee...
- 07:49 Former Coventry City defender Blair Adams joins Hartlepool United
- 07:49 Video 5 of 5: Heatwave a boost for Grantham Carnival
- 07:44 RMT announces three-day strike on Northern rail network
- 07:43 Peter O'Mahony's journey from the back pitches of his local club in...
- 07:43 New Zealand vs British and Irish Lions LIVE: Follow all the action...
- 07:41 The biggest fee paid in every Premier League summer transfer window...
- 07:41 Colwyn Bay promenade development countdown as school holiday looms
- 07:41 These are the road closures for Cycle Live Nottingham this weekend
- 07:34 La Liga stadiums ranked by capacity: Which grounds are biggest?
- 07:27 Care home in Ellesmere Port is shut after family's audio recording...
- 07:26 Lindisfarne Oysters seeks new customers
- 07:26 Conservation work under way at Holy Island church
- 07:25 Visa refusal leaves mother and toddler 4,000 miles apart
- 07:25 UK's first heart pump targets 2018 clinical trial
- 07:21 Gareth Shaw: Finance fraudsters exploit gap in the rules
- 07:21 Glasgow Jazz Festival: Neil Cowley Trio | Mezcla
- 07:21 St Magnus Festival: The Story of Magnus Erlendsson | Edinbugh Quartet
- 07:21 Theatre: Death of a Salesman
- 07:21 Edinburgh International Film Festival
- 07:17 It is a bad time of year for hayfever sufferers but these tips...
- 07:15 Birdwatch: Remarkable year for spoonbills
- 07:15 Wolds Diary: A sunset worth stopping for
- 07:13 Man City and Tottenham in negotiations for Kyle Walker and more...
- 07:13 Marcus Rashford's Manchester United role models were ignored by...
- 07:09 Have you seen this Northampton woman today? Police ask missing...
- 07:06 Quiz: Can you guess this villain from Buffy The Vampire Slayer?
- 07:06 Why north Hampshire is a great place to visit
- 07:06 Premier League teams ranked by club-trained players: Manchester...
- 07:06 Manchester United's Henrikh Mkhitaryan eyes Champions League glory