The added flexibility of modern-day pension set-ups also creates a scenario which worries the FCA. Picture: John Devlin People who have worked hard and saved hard all their lives, and done the right thing, should be trusted with their own finances. Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want. No caps. No drawdown limits. Let me be clear: no-one will have to buy an annuity.”
Those were the words uttered by then-Chancellor George Osborne in March 2014 announcing the introduction of “pension freedom”.And […]
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