Billions in pension freedom cash 'flows into bank accounts'
£3bn 'languishing' in low yielding accounts
People accessing their savings through pensions freedom are continuing to extract money from their retirement pots to put it into unfavourable bank accounts with £3bn transferred so far, analysis from AJ Bell has found.
The provider said its analysis showed £3bn of pension money was now "languishing" in low yielding bank accounts. It added people who had made such transfers now faced a tax "double jeopardy" on withdrawals...
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