Leaving money in pension or taking tax-free cash potential impact on £500,000 pension pot at age 55

Source: AJ Bell. Potential impact on someone with £500,000 pension pot choosing to take tax-free cash at age 55 and saving/investing elsewhere compared to leaving it in the pension for another 10 years. Assumes 6% investment growth in the pension and Stocks and Shares ISA after charges, and that the individual is a higher-rate taxpayer who continues working full-time until age 65, but no longer contributes to their pension. Cash account and Cash ISA assume an interest rate of 4%. Both Cash and Stocks and Shares ISA scenarios involve drip-feeding lump sum into the ISA in £20,000 chunks each year (in line with the annual ISA allowance of £20,000) until all the cash is invested in the ISA.