Savers withdraw £25.62bn through pension freedoms
Increasing flexible withdrawals ‘could cause inheritance tax problems’.
Quarter of women over 55 have no private pension
One in five are “worse off than they expected to be”.
70% of small firm employees save into workplace pensions
Participation rates still fall behind medium and large businesses.
Employers’ pension contributions rise to 3%
Combined employer-employee contributions increase to 8%.
Green light given to pensions dashboards
Most pension schemes to be included within three to four years.