Withdrawals have surged amid rumours that the tax-free lump sum will be slashed and the impending introduction of inheritance tax on retirement pots

Withdrawals have surged amid rumours that the tax-free lump sum will be slashed and the impending introduction of inheritance tax on retirement pots

The 'unprecedented rush' to withdraw tax-free cash from retirement funds saw £18.1 billion taken out in the latest financial year, up from £11.2 billion the year before.