Property News · March 28, 2016

Savers withdraw £6bn from retirement funds after pension reforms


Total amount that British over-55s have taken out of pensions since shakeup is lower than some commentators predictedSavers have withdrawn almost £6bn from their retirement funds after the introduction of pension reforms last year.New industry figures show that just over 213,000 cash lump sum payments totalling £3bn were made to over-55s since the changes were implemented on 6 April. On top of that, pension firms paid out £2.9bn in the form of regular sums to provide an income, said the Association of British Insurers. Continue reading…

Source : theguardian.com
Read more…Savers withdraw £6bn from retirement funds after pension reforms

You may also like...