Dip in and cash out: a new type of pension pot

Karl Deeter Talking Finance: Changing the rules on when you can ‘cash in’ on your pension may encourage more of us to save more for later years

Karl Deeter
Karl Deeter

Last week we looked at mortgages as a type of ‘forced savings’, but what about other long-term savings like pensions? You can tap into your home’s value by selling or borrowing against it, but pensions can be tricky because many people under-provision for the life they say they want in retirement.

A recent study by Standard Life showed that people want to retire on €40,000, but save to provide an income of only ...