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More than 320,000 pension pots withdrawn at rates of 8% or more – FCA
This accounted for 46% of pensions with regular withdrawals and was up 24% from 259,507 in 2024/25.
pension withdrawals
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Pension withdrawals hit new record in 2025 – HMRC
In 2025/26, £22.4bn was withdrawn flexibly, up from £18.6bn in 2024/25 and £15.3bn in 2023/24.
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Retirees hit with £87.2m tax bill after cashing in pension pots, analysis finds
The tax paid was up more than 20% on the previous year, according to analysis of Financial Conduct Authority (FCA) data from Standard Life.