Tax-free lump sum pension withdrawals halve during Covid-19
Dropped 53%
The number of savers opting to withdraw a tax-free lump sum from their pension has dropped more than 53% since the start of the coronavirus pandemic, according to the Association of British Insurers (ABI).
This is one of many pension protection measures noted during lockdown as savers face a volatile market and rising unemployment prospects. Comparisons between April 2019 and April 2020 from the ABI found...
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