30 January 2020

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

2 min read

Helen Morrissey

Corporate PR Specialist – Long Term Savings

Helen Morrissey, pension specialist at Royal London, comments on data showing the amount of money being flexibly withdrawn from pensions

“While the amount of money being withdrawn from pensions continues to rise it is interesting to note that the average amount withdrawn per individual has fallen in comparison to the same quarter last year.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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Notes to editors

Link to data can be found here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/861650/Pension_Flexibility_Statistics_January_2020.pdf

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

Email: helen.morrissey@royallondon.com
Tel: 0203 272 5433
Mob: 07919 170 712

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.