UK. FCA: Over 320,000 pension pots withdrawn at 8%+ rates and risk emptying pension pots
While smaller pension sizes see the highest proportion of high withdrawal rates, over 15% of pots of £250,000 or larger and more than a third (36%) of pots between £100,000 and £249,000 were still withdrawn at 8% or over through the latest financial year. Looking at the data by age, half (50%) of those aged 55-64 are making regular withdrawals at an annual rate of 8% or higher. The data also shows that 479,485 pensions were fully withdrawn at the first...
