Savers withdraw average of £47,000 prior to retirement, research finds

Scottish Widows finds more than three in four retirees have withdrawn funds early

Martin Richmond
clock • 2 min read
Savers withdraw average of £47,000 prior to retirement, research finds

More than three quarters of retirees have withdrawn funds from their pension pots before they reached retirement, research from Scottish Widows shows.

The provider's research, which analysed 232,654 different retirement claims between 2019 and 2023, found 78% of retirees had already accessed their pension pots by the time they reached their selec...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Professional Pensions: Stories of the week

Professional Pensions: Stories of the week

GSAM appointed by Shell to run OCIO pensions brief, LCP warns against Budget pensions tax relief raid, Utmost publishes half-year results

Professional Pensions
clock 12 September 2025 • 1 min read
Outlook 'less than rosy' as UK GDP flatlines in July

Outlook 'less than rosy' as UK GDP flatlines in July

Tough decisions ahead for the chancellor

Michael Nelson
clock 12 September 2025 • 2 min read
SPP Conference 2025: In-person event tickets available

SPP Conference 2025: In-person event tickets available

The in-person event on 25 September will be held at the London office of A&O Shearman

Professional Pensions
clock 12 September 2025 • 1 min read
Trustpilot