HMRC figures published on Friday suggest almost £17.5bn has been flexibly withdrawn since the inception of pension freedoms, but that figure is not reflective of 'the bigger picture', according to one industry expert.
The latest government figures show 500,000 flexible payments were made to 222,000 people in the first quarter of 2018 - the highest number of payments to the most people since the freedoms were introduced...
To increase ‘national footprint’
Reacting to higher US rates
‘Charity lump sum death benefit’
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The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.