While it can be tempting to access your pension pot once you reach 55, doing so could prove to be costly.
Those struggling with debt may think their pension is the answer to their prayers – but insurer Royal London warns that using it early could hamper you in the long term.
For a start, it may have a profound effect on the amount of benefits you receive, with some even ‘disqualifying' themselves from getting any state help if they take money out ahead of time.
