FCA pension data shows 43% withdrawing at 8% rate

The latest figures have been dubbed as a 'worrying' trend

Ayesha Venkataraman
clock • 2 min read
The latest FCA pension data
Image:

The latest FCA pension data

More than 160,000 people took annual withdrawals of more than 8% from their drawdown pot, according to the latest data from the Financial Conduct Authority (FCA).

The FCA has revealed its analysis of the latest retirement income data between April 2020 and March 2021, finding that while most of these high withdrawal rates were largely from smaller pensions, ...

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 Industry

Torsten Bell sets out pension challenges and solutions in paperback edition of book

Torsten Bell sets out pension challenges and solutions in paperback edition of book

Calls to enable more active ownership of UK shares and to increase AE minimums

Jonathan Stapleton
clock 20 February 2025 • 4 min read
Lloyds reports 16% revenue growth in pensions division; reveals fall in DB surplus

Lloyds reports 16% revenue growth in pensions division; reveals fall in DB surplus

Growth in bank’s insurance arm partly driven by strong performance in workplace pensions

Jonathan Stapleton
clock 20 February 2025 • 3 min read
PP Admin and Data forum 2025: Two weeks to go!

PP Admin and Data forum 2025: Two weeks to go!

Our annual event will return as a half-day event at One Whitehall Place on Thursday 6 March 2025

Professional Pensions
clock 20 February 2025 • 1 min read
Trustpilot