Many people decided better safe than sorry and took tax-free cash before last year's Budget in case of a raid on their hard-earned pension savings.

Now fears are igniting again as Chancellor Rachel Reeves prepares what is expected to be another tax-raising Budget, scheduled for 26 November.

So, did you take the plunge and dip into YOUR pension after the election in July, but before the Budget in 2024?

If you took your tax-free cash last summer or autumn, we want to hear from you.

How much did you take, when, and why? What did you do with the money, and how do you feel about your decision now?

Tell us your story - whether you feel it was worth it, or if you have regrets now - at [email protected].

In the event, Reeves left tax-free cash alone in the 2024 Budget, but announced plans to bring pensions into the inheritance tax net from 2027.

This year, despite calls for Reeves to allay concerns now if she is NOT going to slash the limits on tax-free cash, she is keeping her intentions to herself.

Pension firms warn of a repeat of the regrets suffered by savers last year, when many acted on speculation and pulled out lump sums, but then found Rachel Reeves did not adjust the limit in the Budget.

Financial providers and advisers are currently experiencing a rush of enquiries from concerned clients similar to last summer. 

They warn the decision to take 25 per cent tax-free cash will be irreversible, after HMRC and the Financial Conduct Authority clarified the rules on cancellations recently.

There are good reasons to take your tax free lump sum now, if you are over 55 and planned to do so anyway, or have the money earmarked for something important or dear to your heart.

People typically use the money to clear mortgages or other debts, which can be a sensible financial move as you start retirement, or fulfil cherished plans for a home makeover or a dream holiday.

But pension experts warn you can miss out on valuable investment growth under the tax protection of a pension in future - especially if you just stick the money in a current or savings account.

Read more here: How does pension tax free cash work, and should you take it now?