Beware of pension trap when accessing your savings pot before retirement
dailyrecord.co.ukMost workers across the country only really start thinking about retirement when they are nearing it, largely due to the fact that making the decision to stop working can be daunting.
Understanding retirement can sometimes be the difference between having a secure financial future or taking a risk which can lead to financial repercussions.
For many people with a private or workplace pension, knowing they can start to access their hard-earned savings from the age of 55, while still in employment, is a temptation hard to resist.
However, some may not be aware that by doing so, they could affect how much they get when they do eventually retire. Michelle Crowley, wealth planner at Succession Wealth, shares some essential tips on accessing your pension before retirement.
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