Average regular pension withdrawal rate jumps from 4.7% to 5.9% - FCA

The regulator's retirement income data bulletin said the average withdrawal rate from drawdown or UFPLS (uncrystallised funds pension lump sum) pots - where a regular payment is set up - rose from 4.7% to 5.9% over the last two financial years. In this context, the FCA data compares the mid-point for each withdrawal rate band (see graph below). Although the financial watchdog's data shows many of the pots that were drawn down by 8% or more were small pots, more than 20,000 pots worth more than £100,000 were accessed at this higher rate. The following graph shows that a withdrawal rate...