In April of this year employees who are aged 55 or more can take up to 100%of their pension and do not have to buy an annuity.

Some may utilise these funds to invest in property or a business so this release of money is likely to have an impact on economic activity some of which may be competitive with your business. It is worth reviewing restrictive covenants to make sure that your business is protected.

Taking part of a pension early will reduce the amount paid out as a pension on retirement from work.