Savers take £2.3 billion from pensions before inheritance tax raid
- Posted on April 7, 2026
- By The Times
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In brief
UK savers are increasingly withdrawing their tax-free pension lump sums at age 55, with withdrawals reaching £2.3 billion annually. A 38% surge in a single year reflects families' strategic efforts to shield assets from potential inheritance tax changes. This trend reveals growing concerns about future tax policy and demonstrates how individuals are proactively restructuring their financial portfolios to optimize wealth preservation for their heirs.
Savers take £2.3 billion from pensions before inheritance tax raid
The number withdrawing their tax-free lump sums at age 55 rose 38 per cent in a year as families try to protect their wealth
