Next Generation Technical Support

News

Where has £17.5bn of pension freedoms money gone?

Where has £17.5bn of pension freedoms money gone?

About £3bn ($3.9bn, €3.4bn) that has been flexibly withdrawn from UK pensions is currently sitting in low yield bank accounts, with investors facing the "double jeopardy" of tax on withdrawals and low returns, according to research by AJ Bell. Research conducted by FWD on behalf of AJ Bell has shed light on what has happened to the £17.5bn that has been flexibly withdrawn since pension freedoms began in April 2015. The research, released on 26 June, surveyed 370 people who have accessed their pension flexibility since April 2015. Please link to International Adviser to read the full article by Tom Carnegie.

Become a member for as little as £25/month