Interaction: State benefits and pensions freedom

State benefits and pensions freedom

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Aileen Lynch assesses the impact of pension freedom and choice on state benefits distributed by the DWP...

A big concern for advisers during the advice process is to ensure that recommendations provided do not cause the client to be disadvantaged in relation to state benefits. This is a key area for consideration when providing advice to those approaching retirement, making a decision to retire, or are post-retirement when income is likely to be lower than during the years of work, as well as pre-retirement should health or personal circumstances dictate. At this time, the effect of pension funds and whether crystallisation has or should, take place will have a material effect on the clien...

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