Pension investors are taking drastically smaller lump sums from pots

Pension investors are trying to protect their retirement pots from turbulent markets by taking far smaller tax-free lump sums and at a later age, new data reveals. But income withdrawals to fund everyday spending have risen, suggesting efforts to preserve capital are being frustrated as the increased cost of living squeezes people’s budgets. ‘Investors at … Read more

Should you reduce pension saving? Why it’s short-term gain, long-term pain

Workers facing money pressures are being urged not to abandon or cut pension contributions due to the damage this could wreak on their future finances. One in 10 adults had already cut contributions or stopped paying into a pension altogether by early spring, before the cost of living crisis had really set in, according to … Read more