Taking a cash lump sum from your pension may seem like the perfect solution to many of life’s problems. You could pay off that last bit of mortgage, start or invest in your own business, help a child buy a property, or splash out on a brand new car. So, not surprisingly, since pension freedoms were introduced in 2015 people have jumped at the chance to extract as much cash as they want from their pension – exactly what the freedom rules were designed to allow.
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