Pension freedom withdrawals hit record £2.3bn in Q2

James Phillips
clock • 2 min read

A record £2.3bn was withdrawn from pensions under Freedom and Choice in the second quarter of this year, according to HM Revenue & Customs (HMRC).

The period also saw the highest number of people access their pensions via the largest amount of withdrawals in a quarter since the freedoms were introduced in 2015. Over a quarter of a million ...

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

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Defined Contribution

IFS: Rates of projected adequacy often higher for those on lower levels of earnings

IFS: Rates of projected adequacy often higher for those on lower levels of earnings

PP conference delegates hear DC savers still face wide ranging challenges while ‘knowledge is generally low’

Martin Richmond
clock 18 June 2025 • 3 min read
DCIF highlights 'growing tension' between economic ambitions and schemes' fiduciary duty

DCIF highlights 'growing tension' between economic ambitions and schemes' fiduciary duty

Report sets out opportunities for DC schemes to contribute to UK growth while delivering strong outcomes for savers

Holly Roach
clock 11 June 2025 • 3 min read
The evolution of DC investments

The evolution of DC investments

How defined contribution schemes are investing in private markets.

Jonathan Stapleton
clock 11 June 2025 • 15 min read
Trustpilot