While UK master trust pension schemes await further clarifications over the potential threat to their business from new Lifetime Individual Savings Accounts, some master trusts are now launching new strategies to take advantage of pension freedoms rules introduced by the government 18 months ago.
Under pension freedoms, members of defined contribution pension schemes are no longer restricted to buying an annuity to draw down their pensions, but can instead use their pension savings pots as they see fit, including making cash withdrawals.