Pension freedom withdrawals reach record high in Q2

According to figures from HM Revenue & Customs (HMRC) published on Wednesday (31 July), more than £28bn has been flexibly withdrawn since pension freedoms came into force in April 2015. Some 336,000 individuals withdrew from their pensions in Q2 2019, a 27% increase from the 264,000 that did so between March and June last year.  AJ Bell senior analyst Tom Selby said there was "finally" a clearer picture on how people are using the flexibilities four years after pension freedoms were introduced. He added: "On the whole the available evidence points to savers acting in a sensible man...