Sheriar Bradbury: Did pensions just get exciting?

Did pensions just get exciting?

clock • 3 min read

The Budget reforms are welcome, but will savers' spending desires be too much of a temptation...

Few would argue that changes to pensions in the Chancellor's 2014 Budget were anything less than a political master stroke. With one wave of his red Budget box, George Osborne has empowered savers and pensioners by granting them access to their own money. This in turn will provide a boost to both the economy as well as the tax coffers through those taking advantage of the new rules to access their pension funds and paying 40% or even 45% in tax for the privilege. Kerching. The best part is, these changes didn't cost him a penny and are all beautifully timed to kick in a month befor...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Income

Targeted support: FCA rules out specific annuity suggestions

Targeted support: FCA rules out specific annuity suggestions

Firms must signpost consumers to MoneyHelper’s annuities comparison tool

Jenna Brown
clock 30 June 2025 • 3 min read
How annuity underwriting needs to change to meet Consumer Duty

How annuity underwriting needs to change to meet Consumer Duty

'This is an industry systematically delivering poor outcomes'

Andrew Gething
clock 24 June 2025 • 4 min read
Annuities in a post-freedoms world: The need for rebranding and repositioning

Annuities in a post-freedoms world: The need for rebranding and repositioning

‘The challenges facing today’s retirees are intensifying’

Steve Butler
clock 22 May 2025 • 4 min read