Pension pot withdrawals reach £2.7bn

CFM (UK) Limited News Update: HMRC says over-55s have cashed in more than £2.7bn of their pensions since new freedoms were introduced in April. In the last six months, 146,000 people have made a withdrawal from their pension under the new rules. According to the data, £1.5bn of pension payments were made in the second quarter, with withdrawals reducing to £1.2bn in the following quarter.

Financial Times, Page: 4