A spokeswoman for CG said that the company always advised its clients to “carefully consider all factors before making decisions about withdrawing from their pension funds”.
She explained: “While purchasing a home can be a worthwhile investment, it’s essential to evaluate how early withdrawals may impact long-term retirement savings.
The spokeswoman added: “Generally speaking, many individuals contribute the minimum amount required by law to their pension funds.
“This can potentially lead to insufficient savings for retirement, emphasising the importance of considering personal financial goals and making informed decisions about contributions.
“It would require increased pension contributions and potentially higher investment returns to make up for the withdrawn amount...
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