The use of a pension to fund a business start-up is an interesting by product of the pension freedoms. However, I would hope that anyone using their pension in this way has first sought some advice not just on setting up their business, but the potential impact on funding their lifestyle in retirement.

Just because the freedom now exists to take a pension from age 55 doesn't mean it should be viewed as easy access cash. For the vast majority of people, their pension is there to provide the means to fund their desired lifestyle throughout their retirement. This pot will have taken them their whole career to build up and unless they have alternative income means, it will need to sustain them through retirement.