Pension savers can get hands on 'thousands overnight'

Pension savers have been warned to think carefully before taking their tax-free cash after research found many are accessing their pension before they stop working. People can suddenly find themselves able to get their hands on “tens of thousands of pounds overnight”, according to AJ Bell, but taking the money without considering the consequences could affect their retirement income. Research from the investment firm found 76% of people aged between 55 and 64 had already taken the tax-free lump sum from their pension.