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The Guardian - UK

Business

Rupert Jones

UK pension savers urged not to withdraw cash due to budget ‘fear and rumour’

United Kingdom

Banknotes (£5, £10 and £20) featuring King Charles III — FCA data showed that UK pension savers withdrew more than £70bn from their retirement pots in 2024-25 compared with £52bn taken out the year before. Photograph: Gareth Fuller/PA

Older savers should avoid making rash decisions about their pension cash based on “fear and rumour”, experts urged this week.

The warning came as figures showed a rise in the sums people were pulling out of their retirement pots.

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