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Britons with pension pots have been warned not to start pulling money out of their savings ahead of the upcoming budget.

Chancellor Rachel Reeves is preparing to deliver the autumn budget, sparking fear that pension savings will be targeted.

However, savers, particularly older people with pension pots, have been urged to avoid making any "panic" decisions.

Ahead of the budget, there has been a sharp rise in people taking money out of their pension pots, new data from the Financial Conduct Authority has revealed.

Pension withdrawals jumped by 36 per cent from £52.2million to £70.9billion, during the 2024/2025 tax year, while pots being accessed for the first time jumped by 8.6 per cent.

Eamonn Prendergast, Chartered Financial Adviser at Palantir Financial Planning Ltd , s

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