Freedoms payouts total £1.6bn in Q3 as probe hears evidence

James Phillips
clock • 2 min read

Just under 200,000 people accessed their pensions using Freedom and Choice in the third quarter of the year, HM Revenue and Customs figures have revealed.

On average, each person received around £8,000 through 2.2 withdrawals, with £1.6bn being paid out. The figure is down from the record £1.9bn recorded in Q2 this year, when the average withdrawa...

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

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
TPT launches managed retirement for life offering

TPT launches managed retirement for life offering

Proposition allows members to convert their pots into inflation-linked income for life

Jonathan Stapleton
clock 11 June 2025 • 2 min read
Trustpilot