What to tell clients about the Chancellor's 'radical' pension changes

The radical changes, the biggest in a generation, are set to be fully in force by 2015. If the changes go ahead anyone of pension age will be able to draw as much from their pension pot as they choose at any time. One quarter remains tax free and the balance would be taxed at about 20% and would be tax as income in the year it is taken. Standard Life said though the detail isn't set in stone it signals the government's desire to give savers more control and responsibility over their retirement income. "It could represent pension utopia, but only with advice to solve an increasingly co...