While the media have given the new pensions freedoms headline treatment for some time now, it seems as though the very people who SHOULD be keeping savers informed aren’t doing that good a job of it.

Here at www.RetireEasy.co.uk we’ve just conducted a detailed survey with a 1500 tranche of our subscribers. We reckon our subscribers are a pretty savvy lot, not least because they are taking the trouble to keep their future finances constantly reviewed. But one of the survey responses leapt off the page: less than half (46%) have received any communication from their provider about the new pensions freedom.

A similar number HAVE been contacted direct, while a further 8% have had updates from their financial advisor.

With so much at stake, not least the possibility that savers would be considering taking advantage of the new freedoms to move their money around, you would assume that providers would have at least put in a holding letter… but no.

What the survey also revealed was that 28% are planning to take some of their pension benefits early – early enough, were it reflected through the general population, to send a shock wave through the pensions industry. Especially so as the average age of those taking part in the survey was 58 – so a large majority are still working.

Of those, 29% were thinking of moving money between one and two years early, 38% between three and four years early, and a whopping 33% will be digging into their pot five or more years early.

A worrying 8% are considering taking out all their pension pot, regardless of the tax implications – perhaps not surprisingly as some 32% of those surveyed had no idea that providers could also levy an early retirement charge… a real double whammy,

Annuities, you won’t be surprise to hear, are still viewed as a poor investment option, with just 10% considering that as a long term home for their funds.

But at least the Government’s policy on pensions freedom does get a big thumbs up – 84% think they’re a good idea.

As do we… but only when they are backed by informed decision making.

Be sure to check out the long-term implications of your pension fund options on your free RetireEasy LifePlan.