Drawdown sales hit post-pension freedoms high

On the other hand, “it is no good watching your money run out prematurely, albeit whilst being the master of your own destiny,” he argued.

He said: “The period following the pension freedoms has been one of rampant stock market returns, so many investors new to drawdown may never have fully experienced a drop in the value of their investments.”

HMRC's figures are not comparable to 2015/16 numbers, since providing this data was not mandatory until the 2016/17 tax year.