No from the way i read it Peter, with last Aprils pension Freedoms, anyone over 55 can access these "Pension Pots" in anyways that they want, Pension savings Accounts from which savings can be immediately withdrawn are considered to be savings NOT notional now..

Here is the info taken from the Link

1 The bank/savings account is a current, deposit or investment account
2 The account is held is a financial institution regulated by the appropriate regulatory
body for the country in which that institution is operating
3 The financial institution is not on the list of excluded institutions under the Immigration
Rules
4 Regular bank statements are provided
5 The statements cover the necessary time period required in the Immigration Rules
6 The savings are held in cash (or their cash value is clear)
7 The savings can be immediately withdrawn (with or without penalty)
8 The funds are under the control of the person and/or their partner for the necessary
time period required in the Immigration Rules
9 The source of the funds is legal
10 The source of the funds has been declared


7.4.4. For example, in the UK a ‘stocks and shares’ Individual Savings Account (ISA) does
meet the definition of a savings account and the funds can be considered as cash
savings if all the requirements above are met. Likewise, a pension savings account from
which savings can be immediately withdrawn.


So by looking at the Table in 7.2.4 someone who has savings of lets say £5k and a Pension Pot if over 55 of lets assume £25K those two added together will give total savings of £30k and therefore an income of only £9600 is needed, If you have £5k savings and a £30k pension pot the income needed becomes even less at £1600, now Im a bit thick, but thats how i read this..

7.4.4 Is the relevant Paragraph, i dont know how to highlight it, and in 7.2.4 there are two Tables one is for Entry Clearance/Leave to Remain, and the other table for my quoted figures is for Indefinite Leave to Remain i dont know the difference, but i would appreciate if someone who has more knowledge could please read the link above, and see if they come to the same conclusion as me, this could be very important for lots of people out there.

So through Arthurs Link, and my ignorance we may have helped not only Income needed to live in Phills, but others who may be struggling to meet Income requirements for the UK, this could be a loophole which the UK Gov have not yet realised was opened up with Pensions freedoms 2015.