FCA data: Annuity purchases and DB to DC transfers decline
Latest retirement income market figures
"These figures demonstrate the enduring popularity of the pension freedoms" - AJ Bell's Tom Selby.
The number of DB to DC transfers has declined alongside the number of annuities purchased, according to the latest retirement income market figures from the Financial Conduct Authority (FCA).
Between 1 April 2018 and 31 March 2019, some 645,000 pension plans were accessed to buy an annuity, move into drawdown or take a first cash withdrawal. Of those, 350,000 pension pots were fully withdrawn...
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