Tim Bennett Explains: The Pensions Big Bang (April 2015)

Big pensions rule changes come into effect in April. In the final video in my three-part series I introduce them and highlight some key issues for retirees.

[@valpietrangeli]

This was really good. Would love an updated version. I still have the question on whether I should join my company's pension scheme or invest my money somewhere else.

[@nickhumphries6220]

Actually non of this matters unless laws i.e. divorce laws are changed to ensure that in a later part of life your security cannot be touched by anyone. Everybody refers to your pension. It is not if you are married. This means if you have a wife who does not work you have to consider you pension as 50% of it's forecast value. Many do not consider this as the national divorce rates over 50 increase.

[@richardbarker1364]

At 55 can somebody decide to run down their pension pot by taking 25% out each year tax free until the pension pot runs out? I.e on £100k (£25k year 1), £75,000 (£18,750 year 2), £56,250(£14,062 year3) and so on so forth...?

[@minshum]

No just the first 25% of the pot value

[@wernesgruder1]

Or as the Pension companies called it the ‘Oh shit how are we gonna make money moment’