Savers withdrew £9.4bn from pensions flexibly in 2020 - HMRC figures

The statistics, released on Friday (29 January), showed that £2.4bn was withdrawn in Q1 of last year, £2.2bn in Q2, £2.3bn in Q3 and £2.3bn in Q4. The £2.4bn withdrawn in the final three months of the year was a 6% increase year-on-year. The data also revealed that 360,000 individuals withdrew from pensions in October, November and December 2020, a 10% increase from 327,000 during the same months in 2019. There was a also 4% increase in the number of people withdrawing compared to the previous three months. However, the number of people withdrawing dropped in Q3, between July and S...