When the government announced last week it was launching a consultation into the processes underlying the pension freedoms, it came as little surprise to those who foresaw the rollout of these reforms having a bumpy ride.
Chancellor George Osborne announced a day prior that the flexibilities had been enjoyed by 60,000 so far, cashing in around £1bn between them.
This latter figure is around a fifth of the amount predicted to be released from pension pots and the access element of the policy is facing teething problems.
There have been numerous reports of schemes and providers being on somewhat of a go-slow when it comes to handing over savers' cash.
But of particular concern for government is the emergence of stories about high exit 'penalties' being levied on those trying to access their cash from age 55.
However that's by the by if people believe it is in fact the providers who are truly cashing in on their pension pots. Any perceived stalling or overblown charges threaten to undermine the whole promise of flexibility and freedom.
Illustration by Ben Jennings
But not only would this harm one of Osborne's flagship policies, a dampened enthusiasm could also hurt tax receipts in the government's coffers.
The expected revenue from this policy has already been baked in to the Treasury's forecasts so if it falls short, presumably it would have to find some money elsewhere.
In the government's autumn statement last year, it estimated the pension changes would generate £415m over the first full year of the freedoms.
On Twitter last week, law firm Silverman Sherliker's Jenny Kreser pointed out that the government's consultation is likely to be driven by the tax take rather than consumer fairness.
She tweeted: "note HMT not DWP - reinforces its a tax issue, not social/consumer driven."
Either way, it's some encouragement that the intervention is coming relatively early on to help avoid the wheels coming off this policy. And if a by-product of this is a better and fairer process for members, it should be welcomed.
Maxine Kelly is editor at Pensions Expert. You can follow her on Twitter @MaxineEK and the team @pensions_expert
