Just two out of five seek pension freedom advice

He said: “An awful lot of money seems to have been taken out of pensions to be held as cash. For many people, the combination of tax on pension withdrawals and low interest rates on cash mean their money may be better left in their pension until needed.

“Some have used the government’s pension wise service, although those that have tended to seek information online rather than take up the offer of a free face-to-face meeting.”

peter.walker@ft.com