The amount savers can put into a pension over their lifetime will fall in April 2016 from £1.25 million to £1 million, Chancellor George Osborne has announced today.
Five million people who've already bought and locked into an annuity will be given the same pension freedoms as people nearing retirement, the Government has announced.
Workers will be able to carry small pension pots with them from job to job from next year onwards under plans outlined by Pensions Minister Steve Webb.
Savers aged 65 and over now have until 15 May to deposit money into Pensioner Bonds, as the Government has announced it's extending the scheme past its original £10 billion allocation.
Everyone aged 55 and over will now be entitled to a free state pension statement the Government has announced today, but it's not automatic so you'll need to request a copy.
The impartial guidance that will be offered alongside the pension changes coming into force in April will go under the name Pension Wise, the Government has announced.
12 January 2015
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