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HMRC data shows £4.4bn withdrawn since UK pension reforms

HMRC data shows £4.4bn withdrawn since UK pension reforms

Nearly £4.4bn ($6.4bn, €5.7bn) has been paid out of UK pensions since reforms came into effect in April last year, according to the latest figures published by HM Revenue & Customs (HMRC). The data, which reports on pension payments made from the April 2015 until March 2016, shows that £4.35bn has been paid out in 516,000 cash lump sum payments taken out by 232,000 pensioners. Please link to International Adviser to read the full article by Monira Matin.

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