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58% of pension pots cashed out in full

More than half of pension pots are being cashed out in full as fewer people seek professional guidance, new figures from the FCA have revealed.

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Value of money withdrawn from pension pots falls 5%

The FCA’s latest retirement income market data for 2022/23 published today has revealed that the money being withdrawn from pension pots is falling, dropping 5% to £43,199m from £45,638m in 2021/22.

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Number of FCA-regulated individuals falls by 806

The number of active FCA-authorised individuals dropped significantly in March with a net loss of more than 800 people on the FCA Register/Directory, according to data services provider Autus.

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Woodford to challenge FCA accusations

Fund manager Neil Woodford and his company Woodford Investment Management are to challenge the FCA’s findings on the management of liquidity for the Woodford Equity Income Fund, according to their lawyers.

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