After a relatively quiet start – well, it was Easter Monday after all – many pension providers are reporting higher than average call volumes from customers, suggesting employees are engaging with the new freedoms and, at the very least, are interested in finding out more about their options.

Debbie Lovewell, deputy editor, Employee Benefits

And, as far as I’m aware, we haven’t yet seen the predicted rush of people eager to trade their pension fund in for a Lamborghini.

According to several providers, while pension scheme members appear keen to take advantage of the new options offered by the reforms, those that are looking to fully cash in their pension are typically looking to maximise small pots, rather than fund extravagant purchases.

Only time will tell if this is actually the case though – and I’m sure it won’t be too long for the first pension pot to be invested in a sports car to hit the headlines.

Debbie Lovewell-Tuck
Editor
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Debbie Lovewell-Tuck is a business journalist with 20 years’ experience specialising in pay, reward and HR. She joined Employee Benefits as a reporter in 2003, before becoming editor in 2015. Debbie is also responsible for editorial content across Employee’ Benefits events, including Employee Benefits Live and the Employee Benefits Awards, as well as hosting Employee Benefits’ webinars.View full profile

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