The onslaught of legislative and regulatory change brought on the UK pensions industry recently reached a bit of a nexus with George Osborne declaring savers aged over 55 would be able to dip into their pensions "like bank accounts."
It was the latest detail in a series of reform handouts to pensioners that the Treasury has been drip feeding us since March. Some commentators have said Osborne is on a ‘reckless joyride of reforms,’ riding a wave of popular support. I would, perhaps, not go so far as to say that but, with the racy language we have seen lately, clearly the tone of the pension reforms has progressed. With that progression comes the need for the financial industry – and advisers in particular – to be quite mindful of what all this prospective change actually means for individuals. Hundreds of thou...
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