Beware the pension tax-free lump sum mistake that leaves millions unable to cover essential costs: RACHEL RICKARD STRAUS

I know you’re going to think me a party-pooper for what I’m about to say, but hear me out.

I’ve been speaking to pension experts who tell me there is one mistake most of us make that could seriously derail retirement – but you’re not going to like hearing it… or the remedy.

Forecasting and analysis firm Oxford Economics will reveal in a report today that 92 per cent of households should be able to cover their essential costs in retirement.

That’s the good news – and is largely thanks to the state pension, which provides the backbone for most incomes in older

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