Rewriting the rules on retirement planning

The changes due to come into effect from 6 April under the new freedom and choice in pensions rules, allowing members to fully access their pension funds, truly turn income planning in retirement on its head. The idea that high net worth individuals should consider taking the bulk of their income from their pensions may no longer apply and advisers now have the responsibility of ­re-educating their clients. The key issue here is the true cost of stripping income from a pension and what alternative options are available. The need for ongoing advice in this area will be much sought afte...