There are certain matters we don’t like speaking about and would prefer to forget. One of these matters is death and everything related to it. However, it is useless to try and ignore the subject because this inevitable reality will ultimately have to be dealt with. So it is best to prepare for the future in a calm manner.  It is always advisable to make a will to protect the interests of your loved ones. If you die without a will, the inheritance proceedings will be more complicated and your estate will be dealt with according to the rules of intestacy, and not according to your wishes. 

Although there are certain exceptions, two of the many rules and regulations controlling UK pensions are that you can only take 25% of your pension funds as a cash lump sum, so that the balance can be used to provide you with an income for life, and that you must now be at least 55 years of age before you take any pension benefits (unless you have a special reason like a terminal illness).

Considering the challenging financial times we are in at the moment, it is not surprising that people are looking for ways to get their hands on cash and that an arrangement allowing them to access funds from their pension savings would sound attractive.