The Chancellor stated that the recent budget was for “the makers, the doers and the savers”. The thrust was to stimulate business, reward those in work and allowing those who have saved into pensions to access their funds more flexibly, and if you have any surplus money, save into enhanced ISA’s. However, what about the rest of the country, those not nearing retirement, the unemployed, the younger population, and the families “just getting by” with more years ahead of low wages and real declines in purchasing power. It appears that this pre-election carrot dangling was to win over the growing amount of baby boomer silver haired voters, those with surplus savings and not those who are having their retirement age pushed up and up.

The choices – be lucky that you can retire shortly after April 2015 and blow your whole pension pot and gamble your money at Bingo whilst supping a pint or, make do with the continued austerity and save into a pension where the chances of retirement seem ever further away.