30 October 2019
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Royal London said the figures show people are phasing their withdrawals to minimise the tax they have to pay
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
In a document published today (30 October), HMRC also noted that the average amount withdrawn per individual in Q3 2019 was £7,250, down from £7,600 in the same period last year. Some 327,000 individuals...
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