Chatting with friends on the way to one of my fave pubs on Chichester Harbour last week, I received the best piece of financial news in years. I skipped the rest of the way there and downed three more pints than usual in celebration.
Here in the UK, we can withdraw a quarter of our pension tax-free upon turning 55. That age is rising to 57 soon, though, and it turns out I had the wrong date. I’m actually on the right side of the line and can plunder my pension in August next year.
Everyone should if they can, otherwise the money will vanish in inheritance taxes or some other ruse that Britain’s skint government devises. Pensions may be tax-efficient for savers the world over, but they are, by definition, long-run vehicles and frankly, anything can happen.