Under the changes announced by Chancellor of the Exchequer George Osborne, people will have greater flexibility about when they can access money from their pension.

Citizens Advice chief executive Gillian Guy said: ‘The right guidance can be the key to a financially stable retirement.’ She added that the charity is in ‘a unique position to deliver face to face pensions guidance’.

The Pensions Advisory Service will offer free advice on the new rules over the telephone.