article_snippet: Almost half of savers who chose to cash in Savers pensions as part of the biggest reforms in a century will be making an 'irrational decision', according a financial watchdog.
article_snippet: However, the Financial Conduct Authority is warning that up to 40 per cent of savers who cash in savers pensions will be 'irreversibly worse off'.
article_snippet: And in some cases they even say people who cash in will be left destitute as people who cash in enter old age.
article_snippet: Christopher Woolard, director of strategy and competition at the FCA, told the Telegraph: 'In many cases it may not be in the member's best interests. '
article_snippet: We need to ensure that those who are considering it are fully aware of the potential benefits those who are considering it are giving up.'
highlights_snippet: But a financial watchdog says cashing in could be an 'irrational decision'
  Financial Conduct Authority says some will be 'irreversibly worse off'
  Adds in some cases people will become destitute as the enter old age .
  