Pension Withdrawals

Pension Withdrawals hit record in Q4 2018

Matthew Barrand Pensions

Payments made under the pension reforms of 2015 have steadily climbed and hit 628,000 in the final quarter of last year, up from the  121,000 in the second quarter of 2015 when the reforms took effect. Interestingly, the average withdrawal dropped to a record low of £7,197 in Q4, down from £7,597 in the  previous quarter. This could be a sign that  people are sensibly conserving their pension wealth.