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Quilter head of retirement policy Jon Greer
The number of people who withdrew money from their pension pot for the first time increased to 885,455 in 2023/24, latest statistics from the Financial Conduct Authority (FCA) reveal, however, there was a decline in the uptake of financial advice beforehand.
The retirement income data for 2023/24 reported an almost 20% increase in people accessing their pots for the first time. It said 885,455 people withdrew cash from their pensions compared to 739,65...
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