Pension freedom payouts soar to £1.8bn

Back to early 2015 levels

Carmen Reichman
clock • 4 min read

Payouts under the pension freedom regime have soared in the last quarter when £1.77bn was withdrawn from retirement pots, according to the latest Treasury figures.

In the months since April, 256,000 payments were made to 159,000 people, seemingly double the number processed in the previous two quarters and more than in the three months after the reforms were ...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

TPR's General Code comes into force

TPR's General Code comes into force

WTW research shows average scheme is 87% compliant with the code

Jasmine Urquhart
clock 27 March 2024 • 4 min read
UPDATED: DWP publishes staging dates for pensions dashboards connection

UPDATED: DWP publishes staging dates for pensions dashboards connection

Largest schemes have until 30 April next year to connect to the dashboards infrastructure

Jonathan Stapleton
clock 25 March 2024 • 6 min read
PPF proposes bespoke s143 valuation assumption for smaller schemes

PPF proposes bespoke s143 valuation assumption for smaller schemes

Lifeboat fund says current assumptions are understating the liabilities of smaller schemes

Jonathan Stapleton
clock 25 March 2024 • 2 min read
Trustpilot