Automatic guidance enrolment necessary as pension withdrawals rise, says Just

Withdrawals have hit £10bn barrier

clock • 2 min read

People should be 'auto-enrolled' into Pension Wise guidance when looking to access their pension pots as research suggests an increasing reliance on pension money to fund everyday lives, provider Just has warned.

Just referred to figures from HM Revenue and Customs (HMRC), which found more than £10bn had been accessed flexibly since the introduction of pension freedoms in 2015, with the highest number of pe...

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 Defined Contribution

Government warned it must 'urgently' address rise in small pots

Government warned it must 'urgently' address rise in small pots

Consultancy says government’s plans to tackle small pots are ‘complex’ and ‘expensive’

Martin Richmond
clock 19 April 2024 • 3 min read
Aviva launches 'find and combine' tracing, checking and consolidation service

Aviva launches 'find and combine' tracing, checking and consolidation service

Insurer says end-to-end pension service takes customers just ten minutes to begin

Jonathan Stapleton
clock 17 April 2024 • 2 min read
Why scheme governance and operational resilience is key for private markets in DC

Why scheme governance and operational resilience is key for private markets in DC

Jesal Mistry says private markets can offer significant potential benefits for members

Jesal Mistry
clock 12 April 2024 • 6 min read
Trustpilot