So, back to the question: are freedoms a total regret?
“I am not sure that the principle of the freedoms themselves should ever be regretted, since for the vast majority of individuals the additional flexibility they conveyed should only have been positive,” says Tilley.
“It is the individual pension-holders themselves who need to be reminded that they should not make decisions without knowledge as it is they who will regret them.”
As the well-known line from Spiderman goes: “With great power comes great responsibility.” Something pension savers have had to learn the hard way when it comes to pension freedoms.
Amy Austin is news editor of FTAdviser
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