More than three quarters of pensioners with private or company pension schemes are taking lump sums out of their pension pots, Prudential research reveals.
The life and pensions firm said the average lump sum taken was £24,154. It said 13pc of the 726 retired adults it surveyed said they had given all or part of the sum to their children with 4pc giv...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date