30 April 2020

People taking measured approach rather than raiding pension piggy bank

3 min read

Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings


Helen Morrissey, pension specialist at Royal London responds to today’s data on Flexible Payments from Pensions.

“Today’s data shows people have made full use of pension flexibilities with more than £35bn being withdrawn since the freedoms were introduced. However, the average amount withdrawn continues to drop which demonstrates people are taking a more measured approach to drawing pension income rather than raiding the pension piggy bank at the first opportunity.”


Notes to editors

Link to the data can be found here at:


For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.