Pensions - Articles - Just Retirement on ABI data on payments from pensions

 "Six months in and these figures give both grounds for optimism and for caution. For those of us concerned about people having sustainable incomes over the long-term, it is good to see that £5bn of the pension money being accessed is re-invested in long-term retirement income products and in particular that more people are seeing the value of guaranteed solutions. It's also good that more people are shopping around although the numbers still aren't high enough.

 "The concern is the amount being taken out. That suggests for every £1 of pension money being accessed, only 52p is staying within a tax-efficient pensions environment for future use while more than 48p is going into people's pockets. Of course we don't know whether people taking the money are saving it, spending it or using it to clear debts. But it looks worryingly high and we hope to see it fall once the excitement of the new rules falls off."