The FCA has published its latest retirement income market data update. The analysis provides a summary of the latest data covering the year from 1 April 2025 to 31 March 2026 (2025/26). The data helps the FCA to monitor developments in the market, for example to track what action consumers take the first time they access a pension pot.
Key findings include:
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Total number of pension plans accessed for the first time increased by 7.4% to 1,047,008 in the year ending 31 March 2026, compared with 974,990 in the previous year.
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Plans entering drawdown increased by 10.5% to 401,137 in the year ending 31 March 2026, compared with 362,946 in the previous year.
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In the year ending 31 March 2026, 64.5% of those who entered drawdown took a Pension Commencement Lump Sum, compared with 61.9% in the previous year, an increase of 2.6% percentage points.