Pension freedom withdrawals hit record £1.8bn in Q2

Kim Kaveh
clock • 2 min read

A total of £12.7bn has been withdrawn from pensions since Freedom and Choice was introduced in April 2015, according to latest HM Revenue & Customs (HMRC) statistics.

At the end of 2016, the total figure reached £9.2bn, and has since increased by £3.5bn in the two quarters of 2017, with an all-time high of £1.9bn withdrawn in Q2, compared to £1.6bn in Q1. Des...

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

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Contribution

UK Pension Schemes Act - Turning reform into better retirement outcomes

UK Pension Schemes Act - Turning reform into better retirement outcomes

Steve Charlton says reforms should be judged by whether they actually improve outcomes

Steve Charlton
clock 06 July 2026 • 3 min read
Private markets putting increased focus on DC asset allocation

Private markets putting increased focus on DC asset allocation

Hymans says VfM framework could be one of the most ‘significant’ DC market developments in recent years

Martin Richmond
clock 06 July 2026 • 4 min read
TPR launches phased communications programme for DC schemes

TPR launches phased communications programme for DC schemes

Programme will ensure DC plans are ready for the higher Pension Schemes Act standards

Holly Roach
clock 25 June 2026 • 2 min read
Trustpilot