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.
Hargreaves Lansdown's shares rose on news the government is set to increase the personal ISA allowance to £15,000, whilst life company stocks tumbled, after chancellor George Osborne unveiled the latest Budget.
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In this week's quick-fire poll we ask: Should product providers send their at-retirement customers to a list of advisers to help them make better decisions about using their savings?