Pension withdrawals hit £2.6bn in 2021 Q1 - HMRC

This figure represents a 6% increase year-on-year, as £2.5bn was withdrawn throughout the same three months last year. Since 2015, when pension freedoms came into effect, the total value of flexible withdrawals from pensions has exceeded £45bn.   In these first three months, around 383,000 people withdrew from their pensions, a 10% increase on the 348,000 who did so in the same period last year. In addition, HMRC revealed a 6% increased in the number of individuals withdrawing, compared to the first three months of previous years. The average amount withdrawn per individual throughout...