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Evening Standard
Evening Standard
Politics
Vicky Shaw

More than £70bn withdrawn from retirement pots in 2024/25 – FCA figures

FCA the Financial Conduct Authority
Some 30.6% of pension plans accessed for the first time in 2024/25 were accessed by plan holders who took regulated advice, down from 30.9% in 2023/24, the Financial Conduct Authority said (Gareth Fuller/PA) - (PA Archive)

Pension savers withdrew more than £70 billion from their retirement pots in 2024/25, marking a jump of just over a third (35.9%) compared with the previous year, according to figures from the City regulator.

The figures, released by the Financial Conduct Authority (FCA), prompted some finance experts to suggest that speculation around potential tax changes could have influenced some people when withdrawing money.

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