Savers ignore guaranteed annuity rates to cash out small pots, FCA stats show
68% of GARs were not used between July and September 2015
Almost 180,000 retirement pots were accessed using pension freedom between July and September last year, latest statistics from the Financial Conduct Authority show.
The regulator said 178,990 pensions have been accessed by consumers to take an income or fully withdraw their money as cash. Pension freedom was introduced in April last year. It gave people aged over...
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