Retirement

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.

No one will have to buy an annuity, the Chancellor of the Exchequer has decreed.

The amount of money that can be put in to Junior ISA and a Child Trust Fund has been raised to £4,000 in today's Budget.

The reduction of the withdrawal tax rate from 55% to an individual's marginal income tax rate will increase tax income by £1.2bn a year by 2019, Budget documents show.

Pensioners will be able to buy bonds from the government with ‘market leading rates' to a maximum investment of £10,000, the chancellor has announced.