Pension and annuity changes at heart of Queen's Speech

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Sweeping pension and annuity reforms will be the centrepiece of the Queen's Speech later this morning.

The moves, announced in the Budget, will be announced to Parliament by the Queen at 11.30 am. David Cameron and Nick Clegg said the speech would be “unashamedly pro-work, pro-business and pro-aspiration”, Sky News reports. The two men also said the pension changes would provide “freedom and security in retirement”. The monarch’s address is the final speech before the next general election. Far reaching pension changes were announced in the Budget. George Osborne announced plans to allow savers to have complete freedom over their pension pots, removing the effective need to buy an...

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