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Total value withdrawn from pension pots surges by over 20% in 2025/26


By Jack Gray

The total value of withdrawals from pension pots increased by 21.7 per cent to £91.2bn in the year ending 31 March 2026, with annuity purchases and those entering drawdown both rising, data from the Financial Conduct Authority (FCA) has revealed.

Its Retirement Income Market Data 2025/26 showed the value withdrawn from pensions rose from £75bn in 2024/25, and from £52.2bn in 2023/24, representing a 75 per cent increase over two years


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Workers more than twice as likely to check savings than pensions

Workers in the UK are more than twice as likely to check their savings balance during a week than they are to look at their pension, research from the Pension Attention campaign has shown

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Employers urged to act now ahead of 2029 salary sacrifice cap

Employers should start preparing now for the government’s proposed 2029 cap on salary sacrifice pension contributions, LCP has argued

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Over a third of DC scheme members taking 'hands-off' approach to retirement planning

More than a third (36 per cent) of defined contribution (DC) pension scheme members are taking a largely hands-off approach to retirement planning, which could leave them with up to £95,000 less in retirement, according to Standard Life

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Half of UK adults would delay retirement to own home outright

Just over half of UK adults would be willing to delay retirement to ensure they own their home outright, with people prioritising homeownership over pension, according to research from PensionBee

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Guided retirement defaults could expose 'millions' to financial losses

Default guided retirement solutions for defined contribution (DC) pension holders risk exposing millions of retirees to financial losses, a study by the Behavioural Insights Team (BIT) has warned

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Lack of large buy-ins leads to subdued H1 2026 volumes

The lack of pension scheme buy-in transactions over £1bn in H1 2026 contributed to subdued buy-in volumes compared with recent years, while helping to improve pricing levels by 3 per cent since the start of the year, according to analysis by LCP

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