Early pensions access could leave workers short of retirement funds

Workers might be able to access their pension savings before the age of 55 under new government proposals. The government may reduce the age at which people can take out money from their company pensions to encourage them to save more. Plans that allow workers to access their pension funds in their 30s could leave them short of retirement funds for their future, according to pensions group. The National Association of Pension Funds (NAPF) said that giving people the chance to take their money out early may leave more people dependent on state funding when they stop work.