Can the public be trusted with their savings, as George Osborne so confidently suggested? Aegon's Colin Bell thinks so...
George Osborne's 2014 Budget was a watershed moment for pension flexibility and the liberation of the retirement savings market, something that we wholeheartedly support. While the compulsion to buy an annuity has been gone for some time, in reality many people couldn't take advantage - having pots too big for trivial commutation and too small for drawdown. These changes bring flexibility for all. More flexibility, fewer rules and less complexity are undoubtedly good things. Annuities will continue to be the right choice for some retirees, and there will still be a market for them....
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