Fewer than one in ten of those with pension queries following the roll-out of the retirement 'freedoms' on 6 April were looking to withdraw their savings in full, research suggests.
While only 7.7% of calls to broker Hargreaves Lansdown concerned accessing their entire pots, some 42% were related to drawdown. Just under 10% telephoned to discuss buying an annuity on the first day of the pension freedoms first announced by Chancellor George Osborne at Budget 2014. Hargreaves Lansdown recorded the reasons customers telephoned on 6 April, though, with it being a Bank Holiday, it noted it only received "a couple of hundred" calls. What customers telephoned Hargreaves Lansdown about on 6 April Topping up/opening a SIPP 8.2% Taxation (of drawing a pensio...
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