More than £25bn has been withdrawn from pension schemes as a result of pension freedoms, according to the latest data published by the taxman.
In figures released on Tuesday (30 April), HM Revenue & Customs (HMRC) also revealed that the first quarter of this year saw record figures for both the number of individuals using the freedoms, as well...
Lane Clark & Peacock partner Steve Webb has called on the treasury to relax rules which could act as a barrier to people aiming to rebuild their pension pots when the Covid-19 crisis is over.
Market volatility means inaccurate CETVs
Nearly £1m lost already
Break in contributions not ruled out
Adds £60m of assets
Up to £2,500 a month