text: The biggest pension reforms in a century have been met with confusion as customers as young as 23 try to cash in their retirement savings. Pension firms said Britons remained baffled about how the radical changes worked, with many unaware of age restrictions or tax implications. Since Monday, over-55s have been able to withdraw all or part of their pension pots instead of being forced to buy a regular pension income for life, known as an annuity. And yesterday, the first people to cash in their pots began to receive their money. Scroll down for video . Since Monday, over-55s have been able to withdraw all or part of their pension pots instead of being forced to buy a regular pension income for life, known as an annuity . The Government had said that everyone over the age of 55 who wanted to take part in the new pension freedoms would be given a free half-hour session of guidance but just 300 advisers are available (file picture) But one major provider reported that customers in their 20s had been calling up to withdraw their retirement savings – unaware they were three decades too young. Others were unaware they faced a hefty tax bill if they removed all their cash at once. The confusion was not helped by a decision to pull the plug on television adverts promoting the Government's pensions helpline. The Treasury said that, ahead of the election, it had switched to a 'low level' advertising campaign for its Pension Wise guidance service and dropped its television adverts for almost two months. 'Purdah' rules bar Government advertising campaigns before a general election so that it does not promote the cause of a certain political party. But experts said barring TV adverts which raise awareness of the pension changes would punish consumers, some of whom were already confused by the changes. Experts fear pensioners could be vulnerable  if they do not receive proper advice regarding pension plans now that over-55s can cash in their pensions and spend them  instead of being forced to buy an annuity (file image) David Trenner, of Intelligent Pensions, said it was 'crazy to stop advertising Pension Wise under Purdah rules', while Catriona Standingford, who runs a financial training firm, asked on Twitter: Shouldn't the consumer/taxpayer come first?.' The Treasury said the service will only be advertised through print and digital advertising for April and most of May. Pensions firm Fidelity Worldwide Investment said it had taken 1,300 calls about the pension freedoms in the last week alone. But several calls a day have been from people under-55 trying to access their cash, including a 23-year-old who mistakenly believed they could 'get hold of their pot now'. Richard Parkin, of Fidelity, said: 'Misunderstandings exist around when you can access your funds. 'Since the new freedoms were announced, we've received a steady number of calls from people under the age of 55 who think they can access their funds under the new rules.'
target: Pension firms said Britons remain baffled about how radical changes work .
  Over-55s are now able to withdraw all or part of their pension pots .
  Some customers in their 20s have been trying to withdraw retirement savings, despite being three decades too young .
  Others do not know they face hefty tax bill if they remove all cash at once .