Pension reforms resemble 'botched DIY job'

The Chancellor George Osborne has announced plans to consult on "excessive" early exit fees faced by savers looking to take advantage of the reforms, in the latest update to the government's retirement reforms. It follows the roll-out in April of widespread changes to the way savers aged 55 or over can access their defined contribution pots. The 'freedoms' were first announced in March 2014. But the government has come in for fresh criticism for "rushing in" the reforms. TUC general secretary Frances O'Grady said: "Pensions freedom is looking increasingly like a botched DIY job....