As your retirement approaches you will have lots of decisions to make, not least how to convert your pension benefits into a retirement income and the most tax efficient way of taking a lump sum.
There will be tricky questions that you might need help with such as can you afford to retire? Should you bring all your pension pots together? How much will your State Pension be?
There are also new rules for accessing your pension to be considered:
In the past, once you’d taken your tax-free cash from your pension, you had to use the rest of the money to buy an annuity that would provide you with a guaranteed income for the rest of your life.
But new rules introduced in April 2015 mean that once you’re aged 55 or over, you can use your pension in any way you wish. With more freedom comes more choice and professional financial advice at this time is essential, it could well be the soundest financial decision you will ever make.