Dymott's Digest: Was Budget 2014 the UK's 401k moment?

Was Budget 2014 the UK's 401k moment?

clock

If the US has successfully 'consumerised' retirement, what might Budget 2014 do for UK savers? Fidelity's Ed Dymott ponders Britain's 401k moment...

George Osborne's drive to increase pension freedom and flexibility, combined with auto-enrolment into pensions, has the potential to transform retirement like never before. It has been said a few times, but I really feel this could be the UK's 401k moment. The changes announced last month coupled with those made over the last few years represent the most significant overhaul of the UK retirement system in living memory. The 401k market has transformed the habits of US investors over a generation. Individuals in the US are generally more engaged in their finances and understand t...

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 Pensions

Savers can draw down target retirement income for just 11 years

Savers can draw down target retirement income for just 11 years

Report exposes retirement income gap

Jenna Brown
clock 08 May 2025 • 3 min read
State pension nears tax threshold – how can the government fix it?

State pension nears tax threshold – how can the government fix it?

'While policy change would be welcome, individual action is just as crucial'

Laura Suter
clock 06 May 2025 • 4 min read
A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

A 1000-day wait: Pension transfer delays demand urgent reform, advisers say

Transfer delays highlight need for ten-day Pension Switch Guarantee

Sahar Nazir
clock 29 April 2025 • 2 min read