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
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