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

News Digest: Pension buyout deals slow as big companies weigh retaining schemes

News Digest: Pension buyout deals slow as big companies weigh retaining schemes

PP brings together all the latest news on pensions from across the national and financial media

Professional Pensions
clock 26 January 2026 • 1 min read
UK Pensions Awards 2026: Entries close today!

UK Pensions Awards 2026: Entries close today!

This year’s awards will be held on 11 June at The Brewery in London

Professional Pensions
clock 23 January 2026 • 3 min read
Hidden 'systemic barriers' perpetuate gender pensions gap

Hidden 'systemic barriers' perpetuate gender pensions gap

Entrenched barriers, not lack of financial confidence to blame

Jenna Brown
clock 23 January 2026 • 3 min read
Trustpilot