Alistair Darling's decision to make changes to inheritance tax, shortly after the Conservatives floated a similar suggestion, has grabbed most of the pre-budget report headlines. However, if we dig a bit deeper and consider the pension-related changes, the PBR was a bit of a mixed bag. It is disappointing that the Government has chosen to restrict the innovation of new annuity products. So called 'third way' annuities are hugely popular in the US, with around 80% of people reaching retirement using these products. These products give people a guaranteed income for life - the main benefit ...
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