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flag UK pensioners receive over £10,000 in average tax refunds due to overcharged pension withdrawals.

flag Thousands of UK pensioners have received over £10,000 in tax refunds after being overcharged on their pension withdrawals, according to Royal London. flag The HMRC data shows a 20% increase in the number of refunds, with about 60,000 pension savers claiming back money in 2023-24, up from around 50,000 the previous year. flag The average refund was £3,342, a 9% increase from the prior year. flag Since 2015, over £1.4 billion has been refunded to pensioners.

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