Pension freedom withdrawals hit record £1.8bn in Q2

Kim Kaveh
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A total of £12.7bn has been withdrawn from pensions since 2015
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A total of £12.7bn has been withdrawn from pensions since 2015

A total of £12.7bn has been withdrawn from pensions since Freedom and Choice was introduced in April 2015, according to latest HM Revenue & Customs (HMRC) statistics.

At the end of 2016, the total figure reached £9.2bn, and has since increased by £3.5bn in the two quarters of 2017, with an all-time high of £1.9bn withdrawn in Q2, compared to £1.6bn in Q1. Des...

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