Pension freedom withdrawals cut through £10bn barrier

Average amount accessed per person continues to fall

clock • 1 min read

More than £10bn has been accessed flexibly since the introduction of pension freedom in 2015, the latest HM Revenue & Customs statistics have shown.

A total £1.59bn was flexibly withdrawn in Q1 2017, the most in any quarter since Q2 2016 and the second-highest figure seen. More than 390,000 flexible payments were made in the quarter. The fir...

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

Standard Life extends Sharia proposition with lifestyle strategy launch

Standard Life extends Sharia proposition with lifestyle strategy launch

Move comes in partnership with HSBC Asset Management and Franklin Templeton

Jonathan Stapleton
clock 18 May 2026 • 3 min read
BlackRock launches LTAF to broaden DC access to private markets

BlackRock launches LTAF to broaden DC access to private markets

LTAF seeded by two UK DC schemes with BlackRock scheme allocating 20% to the fund

Jonathan Stapleton
clock 18 May 2026 • 1 min read
Industry voices concern about concentration of power in DC market

Industry voices concern about concentration of power in DC market

PP survey finds 56% of respondents concur with findings of LCP report

Martin Richmond
clock 15 May 2026 • 2 min read
Trustpilot