This is not necessarily ‘a worrying trend’ if done for the right reasons with the right advice. Yes, taking, say, 10% a year from your pension fund will reduce it over time. However, provided the right calculations have been done (that it should still ‘see you out’) and it’s regularly reviewed (to make sure it’s all being spent), that might well be fine. In my experience there really are very few who blow their pensions to buy the cliché Lamborghini, or even an electric Merc (much better choice). Yes, some have no other option to get them through a short-term financial crisis. But what can we do? It’s their money, after all.
“Why you should never retire”
On my 50th birthday, I will always remember, amongst the card or two I received was a letter from Saga’ who’d managed to find out my age through the wonder of the internet, and were pleased to tell me I now qualified to join my parents and go on holiday with them.
