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A total £1.59bn was flexibly withdrawn in Q1 2017, the most in any quarter since Q2 2016 and the second-highest figure seen.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

IFM Investors: Aligning pension capital with long-term growth

IFM Investors: Aligning pension capital with long-term growth

Cath Bowtell says the conversation between Australia and the UK around long-term investment is entering a new chapter

Cath Bowtell
clock 23 October 2025 • 4 min read
'Crucial' to consider savers' needs amid expansion in pension offerings

'Crucial' to consider savers' needs amid expansion in pension offerings

LCP says industry is at an ‘inflection point’ in UK pension provision

Martin Richmond
clock 22 October 2025 • 4 min read
SPP: The message to the government is clear - don't mandate

SPP: The message to the government is clear - don't mandate

Jeremy Goodwin says mandation would ‘drive a coach and horses’ through the prudent person principle

Jeremy Goodwin
clock 14 October 2025 • 3 min read
Trustpilot