"Let me be clear - no one will have to buy an annuity," are the famous words quipped by the former Chancellor of the Exchequer George Osborne as he outlined his plans for pension freedoms in that famed 2014 Budget speech.
"Let me be clear - no one will have to buy an annuity," are the famous words quipped by the former Chancellor of the Exchequer George Osborne as he outlined his plans for pension freedoms in that famed 2014 Budget speech. And, alongside that now-famous quote came several others deserving of note. These, however, are much less memorable. "Everyone who retires on these defined contribution (DC) pensions will be offered free, impartial, face-to-face advice," Osborne declared. Could it be the then-chancellor meant guidance, rather than advice? In front of the House of Commons that day Osborne...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
Already a Professional Adviser member?
Professional Adviser journalist from 2016-2020
