Article preview: The number of people asking about and accessing their pension pots took a tumble during the lockdown. New figures from the Association of British Insurers (ABI) found that savers resisted the temptation to dip into their retirement funds. Comparing the data from April 2019 and April 2020, the number of enquiries from people about their pension fell by a third. People who decided to access their pension pot using flexible income drawdown fell by 42.2%.
Falling demand for pension withdrawals
This 360-word blog post considers new data from the Association of British Insurers (ABI) which reported a fall in pension enquiries and withdrawals from pension pots during the lockdown, and is now forecasting a rise following pent-up demand and financial pressures prompted by the end of the furlough scheme. Written on 25th July 2020.
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