How to avoid pension drawdown rip-offs

Pensions freedom has overwhelmed some savers, says David Prosser. But new rules are on the way.

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Think carefully before you cash in
(Image credit: Credit: redsnapper / Alamy Stock Photo)

Tens of thousands of savers may have their money invested in expensive and inappropriate retirement products, says the Financial Conduct Authority (FCA). Those who have opted to use income-drawdown plans in retirement may not have made the best choice about how to invest their money.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.