Blog
What impact will the change in pension rules have on the economy?

6th April 2015
The Coalition's flagship pension reform has now come in to force, enabling hundreds of thousands of people of a pensionable age to start to take out a larger proportion or all of their accrued pension pot in a lump sum. The catch for those thinking of taking their money out in one go is that only the first 25% is tax free. The other significant downfall is that any money taken out will no longer count towards the annuity that pensioners have traditionally used to fund a regular fixed income during retirement.
George Osborne claims this is an important reform which will give a large number of people an immediate cash windfall to spend. So, could the new de-regulation of the pension market have a significant impact on the economy?
You might also like

2023 Budget - A Budget for the Rich?
20th March 2023

What are the barriers to economic growth in the UK?
10th March 2023

International Competitiveness & Supply-side Policies
19th February 2023

Should home insulation in the UK be subsidised?
16th February 2023

Underemployment - How Benefit Reforms Push People into Low-Paid Jobs
3rd February 2023

Is the UK government planning to raise the pension age (again)?
26th January 2023