April 2015 pension freedoms

April 2015 pension freedoms

The reforms that took place in April 2015 allow members of Defined Contribution schemes to access their pension savings from age 55* with much more flexibility.

For example members of these schemes may potentially be able to take their entire fund as cash less certain tax charges. 

The rules introduced in 2015 brought new freedoms and choice to use your pension pot as you wish. However, as ever there is the need for careful planning to ensure that you have sufficient income for the whole of your retirement.

*The government intends to raise the minimum pension age to 57 by April 2028.

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