This time last year, I was reassuring people not to rush into taking their tax-free cash from pensions. The media was full of dramatic predictions about what the Chancellor might do, but in reality, no one knew what Rachel Reeves would announce in the Budget.
This year, my advice is exactly the same.
Please don’t be swayed by sensational headlines designed to grab attention. Instead, wait and see what is actually said before making decisions. Your pension is one of the most tax efficient investments you have. If you genuinely need the money, then of course take it; but if you don’t, it’s far better to leave it invested. Once you withdraw it, you can’t simply put it back.
Hope that helps 😊.
