Become a Professional Pensions member

Pension freedom withdrawals hit record £1.8bn in Q2

Kim Kaveh

26 July 2017 • 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A total of £12.7bn has been withdrawn from pensions since Freedom and Choice was introduced in April 2015, according to latest HM Revenue & Customs (HMRC) statistics.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figure reached £9.2bn, and has since increased by £3.5bn in the two quarters of 2017, with an all-time high of £1.9bn withdrawn in Q2, compared to £1.6bn in Q1.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?

GKN confirms DB closure and £250m cash injection

Boots scheme invests in multi-factor equity fund

Author spotlight

Kim Kaveh

Professional Pensions journalist from 2017-2020

View profile

More from Kim Kaveh

Industry split on combining GMP rectification and equalisation

USS gives DC master trust members access to private markets investments

More on Defined Contribution

Defined Contribution

Partner Insight: 'Access was only the beginning' - three years on from the UK's first LTAF

Debates around private markets in DC pensions have shifted from regulatory ambition to defining successful implementation. In this interview, Vikram Bhandari shares our insights from three years of managing the first-ever Long-Term Asset Fund.

Ryan Taylor, Head of UK DC Clients at Schroders and Vikram Bhandari, Head and Chief Investment Officer of Schroders Capital Solutions

20 July 2026 • 12 min read