29 September 2020
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“Today’s figures show more pension funds are being accessed, a highly proportion are being fully encashed and those who are taking income are taking higher amounts" - Just Group's Stephen Lowe.
The latest figures on retirement income from the Financial Conduct Authority (FCA) raise concerns about the long-term sustainability of pension payments, according to Just Group group communications director Stephen Lowe.
The figures, released on Tuesday (29 September), showed a 3.3% rise in the number of pensions being accessed for the first time and a 5.1% rise in the number being fully withdrawn. Of the 673,831 pensions...
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