Pensions Advisory Service

Speaks volumes for the utter ineptitude of the DWP..
Like May and the Tory government - despicable.

ideal puppet for the government with a typical do as i say not as i do attitude

their plan to release cash from pension pots to help the economy will back fire big time in a few years.

just something to add to the harm brexit will cause.

that debt to gdp figure will have passed 200% in no time

Yep. Akin to Thatcher selling off Council houses.

I still don't understand why they did that, was it just for a quick tax hit?

shirley it was because buying an annuity is a mugs game and some folk
would have taken it to court and government would end up bankrupt.

its been a massive con for decades

Giving people a choice how to spend their money......its an outrage!

Yeh, out of the goodness of the Tories heart !!!!

A con, to get people to cash in their pensions, and then spend it - thus  putting monies into the economy. A gamble on potential short term gain ( to make headlines) vs guarantee of long term disaster with people not having a pension pot  big enough to live on - and therefore increase in required benefits.

...you're right less choice is the way forward....everyone should be forced to take out a crap rip off annuity.

Annuities are crap because inflation is non existent, same reason why no interest on savings.
Banks don't want you to save. Loans/ debt is cheap. As are Mortgages, but only rich people can afford to buy a house.
The cup will runneth out ! And then the shlt hits the fan

no one was forced to buy annuities anyway Baron, they could use drawdown.  I really do think that Osborne had an eye on short term revenue as plenty had no idea how the tax worked.

I repeat - it was a con.

Of course it was used to boost the economy everyone knows that.

in response to the op

i hadnt heard this news, this is classic.

yes