The latest data has provided more evidence that Pension Freedom users are putting their withdrawals into bank accounts, according to data provider Moneyfacts.

The average stocks and shares Isa fell by 13.3% during the 2019/20 tax year.

Pensions drawdown investors have seen positive growth in four out of the five years since the Pension Freedoms arrived in 2015, according to a new study.

Flexible pensions cash may be a major contributor to the rise in savings deposits – rather than a rise in consumers saving more, new research has suggested.