For the third consecutive year, flows into personal pension wrappers are on course to exceed monies going into Isas.
It is perhaps this that has driven the record-breaking year more than anything else: while Isa sales levels are slightly above average, the £6.7bn that has flowed into personal pensions this year is already more than £1bn ahead of the previous annual record. Here, as in so many other areas, the impact of the pension freedoms is making itself felt.
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