New laws to protect those cashing in pension pots

Risk warnings to be issued detailing long-term consequences of taking money out of retirement programmes earlyThe financial regulator is rushing in new rules aimed at protecting people keen to cash in their pension pots from making bad decisions that could cost them dearly later on.Under the new regime outlined by the Financial Conduct Authority (FCA), pension providers will be required to question older people about their personal circumstances including health, “lifestyle choices”, and mar