Govt significantly underestimates pensions freedom take up

More than half a million people will be able to take advantage of the government's changing regulation around pensions from 6 April, according to latest official estimates.

The Treasury figures, published a month before new rules come into effect, suggested 220,000 more people could be accessing their pensions flexibly from April than previously estimated. Chancellor George Osborne (pictured) used last year's Budget to announce the government would reform pension legislation to allow people to access their pension savings flexibly or withdraw a lump sum. He estimated at the time 320,000 people each year would be affected. The government introduced interim measures making it easier for people to access their pension savings flexibly in March last year....