Retirement

An exclusive plain-English print-out guide to give to clients

George Osborne's fifth Budget revealed a raft of retirement income reforms giving pension savers freedom of choice.

Yesterday's Budget effectively removed the requirement to ever purchase an annuity, causing shares in listed providers to drop over 50%, but is there value in the sector after such a monumental sell-off?

Yesterday's Budget announced the end of the requirement to purchase an annuity, but it is not the end for the products themselves, says Fidelity Worldwide Investment's Ed Dymott.

Many providers have welcomed the extra flexibility brought by George Osborne's raft of retirement income reforms but the majority have cautioned about giving savers too much, too soon.

Today's Budget pension reforms will not irreparably damage the annuity market says Just Retirement's customer insight director, Stephen Lowe.

'Have a nice day': Exclusive Steve Bee Budget cartoon

HM Revenue & Customs (HMRC) will get extended powers to tackle pensions liberation in the Finance Bill 2014.

'It's the only thing I'm nervous about': What IFAs think of the Budget pension changes

The government will ban public sector workers from transferring pension pots to defined contribution (DC) arrangements and is considering similar restrictions on private sector schemes, it has announced.