Pension lump sum is a false friend

Jess Bown
Pensioner's hand
Pensioner's hand

Older Britons are being urged to think twice before choosing to delay taking their pensions in return for a lump sum payment when they do retire.

Unfortunately, though, it is already too late for the thousands of older people who have put off claiming their state pensions and have received cash payments from the government in return for a lower income.