Latest figures from HM Revenue & Customs (HMRC) show some 772,000 people withdrew more than £6.5bn from their pension pots in 2017, making taking cash from a pension pot "the new norm for millions of people".
The figures remained relatively steady throughout the year, although Q2 proved to be the most popular quarter, with some 200,000 individuals withdrawing about £1.86bn. The number of people makin...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
