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Understanding retirement decisions

In Brief: Understanding retirement decisions

Thursday, 08 May 2025

The impact of pension lump sums and their long-term implications

New research reveals a concerning trend among those approaching retirement[1]. One in five individuals (21%) who accessed a cash lump sum from their pension pot did so as soon as they reached 55, often without fully comprehending the potential long-term consequences. While some utilised the funds to meet immediate financial needs, others withdrew their savings simply because they could.

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