Increased flexibility of pensions changes may not be available to all, warns Eversheds

According to Francois Barker, head of pensions at Eversheds, the increased flexibility of new UK pensions changes announced in the 2014 Budget may not be available to all.

He said: ‘These are the first steps in the government’s overhaul of the way we can access our pension savings and are changes that have come about extremely quickly.

‘Pension scheme members hoping to take advantage of the changes should be aware that not all schemes will allow this increased level of flexibility. It may be that scheme rules do not permit the changes or that those who operate the schemes decide to stick to the previous limits.’