Retirement

The government is introducing an income tax exemption for payments made for advice on transfers out of defined benefit (DB) schemes.

The government does not intend to permit those wishing to cash in their annuities to sell them back to their existing provider, it has announced.

The government is considering making regulated financial advice a requirement for people looking to sell their annuity contracts, Budget documents reveal.

The government should look into the glaring inequality in the tax system that favours defined benefit (DB) pension schemes over defined contribution (DC), Alan Higham has said.

Six things advisers need to know

An additional £19.5m will be provided in 2015-2016 to support pensions freedoms and the Pension Wise service as part of today's Budget announcements.

Chancellor George Osborne has confirmed retirees will be allowed to sell their annuity contracts for cash from April 2016 without facing "punitive tax charges".

The lifetime pension saving allowance has been cut from £1.25m to £1m in the Budget today.

Lifetime allowance cut is a tax grab with both hands

How pensions tax relief has been slashed since 2006