Over a third planning to take cash will switch to bank account

clock

Even prudent retirees risk making poor decisions when pension freedoms kick-in next year, with more than one in three intending to switch their savings into a bank account.

Almost 40% will put the cash into a savings account, current account or an ISA despite historically low interest rates, according to a study by Fidelity. It found that 48% were hoping to take so...

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 Industry

Pension scam warning flags persistent at 97% in June

Pension scam warning flags persistent at 97% in June

XPS says level of scam warning flags demonstrates the threat remains ‘significant’

Holly Roach
clock 23 July 2026 • 2 min read
Professional Pensions unveils events line up for 2027

Professional Pensions unveils events line up for 2027

PP launches programme of conferences, seminars and awards for next year

Professional Pensions
clock 23 July 2026 • 1 min read
Rising Star Awards 2026: Shortlists revealed!

Rising Star Awards 2026: Shortlists revealed!

Judges have carefully selected the most impressive nominees for this year’s accolades

Professional Pensions
clock 22 July 2026 • 5 min read
Trustpilot