Chancellor's legacy: Farewell George, it was an interesting ride

George Osborne replaced by Philip Hammond

clock • 3 min read

Andrew Pennie looks at the legacy of George Osborne's pension revolution but says we cannot let the market develop in its current form...

As we bid farewell to Chancellor George Osborne, one of his legacies will be the introduction of pensions freedom. A move that shook the very foundations of the pension and advice sectors. He effectively took the power away from life companies and other providers and put it squarely in the hands of individuals - some might say a somewhat brave move but a definite vote winner. It was brave because with this power comes consequences, and the consequences of people making poor decisions can have a massive impact on their retirement provision. Before the introduction of pension freedom, a...

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