The 2015-16 pension changes explained in 10 questions

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The 2015-16 pension changes explained in 10 questions - BBC News
What the government calls "pension freedoms" will be in place from Easter Monday. But anyone nearing retirement would do well to note the drawbacks, as well as the advantages.

  • Taking money out of your pension could still land you with a large tax bill.
  • From next year, a new limit on the total size of a pension pot could mean your income from an annuity will be less than you expect.
  • Many in the industry fear a new wave of fraud.
  • It will soon become harder to qualify for a full state pension.
  • Without proper advice, the changes could make it easier to run out of moneybefore you die.
 
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