£19m released each day since pension freedoms launch

£19m released each day since pension freedoms launch

Aviva reports “£32.97 billion of taxable payments have been taken from pensions since freedom and choice was introduced. This equates to an average of £18.75 million being flexibly withdrawn every day over the past 1,760 days since pension freedoms were introduced.”

“The pension freedoms continue to break records, exceeding expectations, as 1.34 million individuals have so far decided to take advantage of their greater flexibilities.

However, the peak for pension freedoms are yet to come. In the coming decade a record nine million people are set to enter the arena of the pension freedoms at age 55. This is more than we can expect to see in any decade that follows. The 2020s are likely to see “peak pension freedoms”.  Read the full article here

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