Savers invest £1.3bn in income drawdown since April freedoms

Stephanie Baxter
clock

Savers have invested more in regular income products than just taking cash since the April pension freedoms, according to the Association of British Insurers (ABI).

During April, May and June, around £1.3bn was extracted in cash lump sums with an average payment size of just under £15,000. Meanwhile some £2.3bn has been used to buy income products, of which...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • 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

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

Smart Pension surpasses 1.5 million members

Smart Pension surpasses 1.5 million members

Master trust provider says it is experiencing rapid growth

Jonathan Stapleton
clock 13 March 2025 • 1 min read
How master trusts can help narrow the gender pensions gap

How master trusts can help narrow the gender pensions gap

Simple steps can go a long way to help women reap the benefit of pensions

Georgie Edwards
clock 07 March 2025 • 4 min read
Defined Contribution Conference 2025: Registration open!

Defined Contribution Conference 2025: Registration open!

This year's event is being held in central London on 18 June

Professional Pensions
clock 07 March 2025 • 1 min read
Trustpilot