On April 6 over-55s will be allowed to cash in all or part of their pension . The government has also announced that the age at which people can start collecting state benefits is being raised from 55 to 60. Financial Conduct Authority says some will be 'irreversibly worse off ' Adds in some cases people will become destitute as the enter old age . Treasury offering appointments to help savers decide what to do . But 'Pension Wise ' service does not even have working telephone number . Savers are unable to book an appointment - with just one month to go .
On April 6 over-55s will be allowed to cash in all or part of their pension . 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 . Treasury offering appointments to help savers decide what to do . But 'Pension Wise ' service does not even have working telephone number . Savers are unable to book an appointment - with just one month to go .