A central pillar of George Osborne’s 2014 budget was the announcement that pensioners will no longer have to buy an annuity upon retirement and that they would have more control of their pensions pots, including the freedom to withdraw cash without incurring penalty tax changes.
The Great Debate UK
–Dr Richard Wellings is Deputy Editorial Director at the Institute of Economic Affairs. The opinions expressed are his own.–
By Kathleen Brooks. The opinions expressed are her own.