Chancellor reveals £1bn cashed in since pensions freedom

George Osborne announced the figures today showing that investors withdrew a total of £1bn from their pots at an average of about £17,000 each. The government reformed the retirement income space over the last year to allow all savers over the age of 55 to access their pension savings in any way they wish. Osborne (pictured) said the unprecedented pension freedoms "have been widely welcomed", calling the reform "a real success". Further reading: Osborne's pensions revolution: Everything you need to know But he added: "We have to make sure that people get the best advice, tha...