Pensions & Lasting Powers of Attorney

A recent report has urged people who are approaching retirement to ensure that they have Lasting Powers of Attorney in place.

The past few years have seen drastic changes in pension rules meaning that retirees have much more flexibility in how they can use the pension pot they have worked so hard to build up.

However, the Zurich report draws attention to the fact that you can only make the most of that flexibility while you have the mental capacity to do so. If you lose capacity then, unless you have given someone authority to make decisions for you, your ability to make the most of your pension is lost.