Pension freedoms payouts have dropped by more than £200m in the last quarter, according to the latest HM Revenue & Customs (HMRC) figures.
After the £1.77bn peak in the second quarter of this year, payouts dropped to £1.54bn in the third quarter, the latest figures show - similar to levels seen in the second quarter of 2015 (£1.56bn), the first period after the pension freedom legislation was introduced last April. Some 324,000 payments were made to 158,000 people in the last quarter - the highest amount of payments made in one quarter since the advent of pension freedoms. More than £7.5bn has been withdrawn since George Osborne's pension freedom legislation came into effect. Although quarterly payout figures are volatile ...
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