Over-55s expect to spend a third of tax-free cash within six months

Standard Life finds women are more likely to spend a larger proportion of lump sum

Jasmine Urquhart
clock • 2 min read
Over-55s expect to spend a third of tax-free cash within six months

Over-55s say they expect to spend one third (32%) of their tax-free pension lump sum within six months of withdrawing it, Standard Life has found.

The firm's research of 2,000 adults in May found one in ten (11%) of this age group expect or have already spent between 90% and 100% of their lump sum within six months. It also found women are...

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