Are the pension freedoms rules set for a shakeup? The Work and Pensions Select Committee could be considering just that according to one of the UK's largest pension providers.
In addition, the FCA (Financial Conduct Authority) is also reviewing the rules to ascertain the level of risk inherent in the current rules.
One aspect of the rules that may be tweaked is putting a floor on the amount of overall wealth necessary in order to access pension freedoms. Restrictions in this area could be coming according to pension provider, Aegon: "As the third anniversary of the pension freedoms approaches there has been talk in some circles of restricting access. This has largely been prompted by concerns that people may run out of money in retirement by overspending or invest unwisely and lose their savings."
This however, might be difficult for the government to implement from a political perspective, he says.
Aegon's research indicates that the pension freedoms initiative has been very popular, with 7/10 of people surveyed indicating that the new rules have helped to ease their transition in to retirement.
However, the research also indicates that when asked whether new rules should be introduced, restricting access to pensions for those that do not have the requisite level of assets, the results were evenly split.
One other aspect of the review is whether it should be possible to go in to drawdown without receiving financial advice. Currently, a third of pensions in drawdown were not advised upon at the initiation of the drawdown process.
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The value of investments and income from them may go down as well as up and you may not get back the original amount invested.
A pension is a long-term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
Fears that pension freedoms will be restricted