Chancellor George Osborne used his fifth Budget speech to unveil an unprecedented package of pension reforms, clearly stating “no one will have to buy an annuity” in the future. Here, we round up all the important measures and outline what's happened since...
Speaking on 19 March 2014, Osborne said some 13 million defined contribution (DC) savers were being railroaded towards buying an annuity with their pension savings but this would end from 6 April 2015....
DB liabilities likely to rise
Our weekly heads-up for advisers
50% chance of cut next month
New sector chosen over reorganisation
Additional financial support if condition is 'severe and life-changing'