In our weekly series, readers can email in with any question about retirement and pension savings to be answered by our experts. If you have a question, email us at money@inews.co.uk.

Question: I am considering stopping work at the end of the year and will want instead to take an income from my self-invested personal pension . However, I don’t know how much I should be taking each month or year. I am conscious that I want to set a realistic level so that I don’t run out of money too fast. I have read something about a 4 per cent rule – but I don’t really understand what this is. Could you explain?

Answer: The benefit of building up a private pension pot is that it gives you more flexibility and choices to set an income to suit your needs in your later years. But working out how to

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