30 January 2020

Latest data on pension freedoms show “dash for cash” slowing

2 min read

 
Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Helen Morrissey, pension specialist at Royal London, comments on data showing the amount of money being flexibly withdrawn from pensions

“While the amount of money being withdrawn from pensions continues to rise it is interesting to note that the average amount withdrawn per individual has fallen in comparison to the same quarter last year. This shows that far from being the dash for cash we saw in the early days of pension freedoms people are now using them in a more considered way.”

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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 £138.9 billion, 8.6 million policies in force and 4,126 employees. Figures quoted are as at 31 December 2019.