Pension Freedoms Scrapped by New Chancellor

Why Philip Hammond is rolling back a number of Osborne pension reforms; the second hand annuity market and triple-lock pension, and the fate of the Lifetime ISA

Emma Simon 14 November, 2016 | 4:00PM
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In the four months since she became Prime Minister, Theresa May and her Chancellor Philip Hammond have quietly ditched a number of key economic policies championed by their predecessors.

Most notably – and within 24 hours of taking office – was the requirement to get the Budget deficit into surplus by end of this Parliament, a central plank of George Osborne’s economic plan.

But Hammond is also rowing back on a number of Osborne’s pension plans, which were part of his bold pension freedom reforms.

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About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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