George Osborne announced a big surprise at the end of his budget major changes to the Isa and pension regime.Here are all the main changes announced in the budget:
Isas
Existing Isas can be transferred between shares and cash or vice versa without any restriction. These restrictions will be lifted in July as well.
Pensions
More retirees will be able to go into flexible drawdown' with their pension pots. In other words, they'll have complete flexibility on how much money they can withdraw. They'll only need to demonstrate they have £12,000 in other pension income as opposed to £20,000 now.
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Anyone with a pension pot who is about to retire can receive free financial advice on what to do a new right to advice'.
New pensioner bond
Income tax
The higher rate (40%) threshold will rise to £41,865, and then by 1% each year.
Growth and debt
Property
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Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
