April 2015 saw new pension freedoms come into force, there are now more choices and flexibility when it comes to taking your pension. Your retirement journey should be made to suit you. You could take advantage of flexible payments and multiple withdrawals. However, this combination of taking multiple withdrawals in a tax year at earlier ages, when people are still likely to be earning income from work, means many people are likely to be paying more tax than if they took withdrawals more gradually. Seeking professional financial advice could help you to manage your financial retirement journey.
