Pension freedom withdrawals hit record £2.3bn in Q2

The period also saw the highest number of people access their pensions via the largest amount of withdrawals in a quarter since the freedoms were introduced in 2015. More than a quarter of a million people, across 574,000 payments, withdrew an average of £8,600 between April and June. The figure is up 34% on the previous quarter when withdrawals amounted to £1.7bn. Barnett Waddingham senior consultant Malcolm McLean said the figures demonstrate "the continuing popularity" of the freedoms. "What is less clear, and rather more worrying, is how many people are accessing their pension ...