HMRC figures published on Friday suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that figure is not reflective of 'the bigger picture', according to one industry expert.
The latest government figures show 500,000 flexible payments were made to 222,000 people in the first quarter of 2018 - the highest number of payments to the most people since the freedoms were introduced...
For a long time, the road to retirement followed a familiar path. Individuals saved up for a pension during their working life in order to retire at a set age; usually around 65. This path has shifted, however.
Only one in ten opt for an annuity
Scheme pays or not scheme pays?
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
Plus online scams