Brits increasingly use pension drawdowns for flexible income

Pension drawdowns have seen a 26% surge in usage, allowing retirees to access funds flexibly. This increase reflects a growing trend of individuals accessing their pension pots without cashing them out entirely, with up to 25% available tax-free. The Financial Conduct Authority reported an 8.6% overall rise in pension plans accessed, with drawdowns becoming more mainstream after 2015 pension freedoms.