The pension freedoms have given people the chance to spend their pension savings as they see fit, rather than being funnelled into an annuity, as was often the case pre-freedoms. As a result, huge numbers of retirees have opted for income drawdown, which allows them to withdraw from their pot when they wish – and new figures show that these withdrawals have just hit record levels. Flexible payments
New data from HMRC shows that the number flexible pension withdrawals hit a new high between July and September this year, with a record 585,000 payments made to 258,000 people. […]
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