Off to see the wizard: Dennis Hall says Osborne's pension changes are smoke and mirrors

Off to see the wizard: Dennis Hall says Osborne's pension revolution is smoke and mirrors

clock •

If I hear another government minister say they're doing something for the ‘hard working families of Great Britain', I think I'm going to retch.

I'll also retch if I'm told to ‘look at the Australian model' every time I express doubt over some of Osborne's pension changes. Honestly guys, you'll make me sick! And at the risk of being sick, pretend for a moment that the ‘Australian' pension model resembles a Cherry Bakewell Tart. It has a bucket shaped pastry case filled with jam and sponge, which is then covered with icing, with a cherry popped on the top. Well, Osborne has just tossed you the cherry. And while you're focusing on that, he wants to grab the biggest slice of your pension cake that he can. George wants you to t...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell has called on chancellor John Healey to commit to a pension tax lock

clock 06 October 2026 • 2 min read
Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

'Real-world consequences of allowing pension tax speculation to run unchecked'

Rachel Vahey
clock 05 October 2026 • 3 min read
Triple lock played 'important role' but it would 'always need to end'

Triple lock played 'important role' but it would 'always need to end'

Pensions industry reacts to triple lock change

Holly Roach
clock 30 September 2026 • 4 min read