Pension freedom - the first two years in numbers

Lamborghinis for all?

Hannah Godfrey
clock • 4 min read

Today marks the second anniversary of the introduction of the so-called 'pension freedom' reforms that, in just a couple of years, have fundamentally changed the UK's retirement landscape.

The measures, first unveiled to great surprise by then-Chancellor George Osborne (pictured) in his 2014 Budget, have resulted in a heightened interest in pensions among consumers and a tax windfall for the government, while proving a significant blow to annuity providers, with several dropping out of the market altogether. To mark the occasion, Professional Adviser has pulled together the most interesting facts and figures to have emerged on the subject over the past two years. £9.2bn According to the latest statistics from HM Revenue & Customs, more than £9.2bn has been flexibly ac...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Retirement

Defensive income before retirement: A four layered framework

Defensive income before retirement: A four layered framework

Entering decumulation can be an unsettling time for clients

Joe Simpson
clock 10 August 2026 • 4 min read
The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

The FCA's decumulation challenge: Can UK REITs help deliver sustainable retirement income?

A look at the three Ss of retirement income

James Peel
clock 04 August 2026 • 7 min read
What the decumulation shift means for advice firms, and how the best are responding

What the decumulation shift means for advice firms, and how the best are responding

'Technology is part of this picture in ways that are worth being honest about'

Andy Zanelli
clock 14 July 2026 • 4 min read