Why cashing in a pension pot as Covid bites should be a last resort

It has become a quick fix for more over-55s, but it can come at a high price in retirement, writes Shane Hickey As the pandemic continues to cause financial strain across the country, some people are taking a drastic step to shore up their finances by dipping into their pension pot. HM Revenue and Customs reported that 347,000 people withdrew money between July and September, a notable rise compared with last year. With businesses now shuttered during the second lockdown, the prospect of further...