Finance expert Laura Pomfret explained how Brits can benefit from pension draw downs (Image: BBC Morning Live)

A BBC finance expert has offered Brits crucial advice on their pensions - as new figures reveal a staggering increase in people drawing down on them.

The figures, published by the Financial Conduct Authority (FCA), found that the number of pension plans being accessed for the first time increased by 8.6% on the previous financial year.

The sale of draw down policies saw the biggest rise, with almost 350,000 being accessed in the last tax year.

Draw downs allow Brits to take 25% out of their pension pot tax free and leave the rest invested.

Finance expert Laura Pomfret told BBC Morning Live: “So pension draw down is a great flexible retirement option - it lets you take m

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