Pension funds: Osborne's annuity reform 'perplexing'

ITV News Business Editor Joel Hills tweeted:

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National Association of Pension Funds describes Chancellor's annuity reform as "perplexing" and "little robust modeling". Ouch.

Read: Chancellor announces private pensions revolution

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Warning over 'burden' of reformed pensions

The Treasury has dismissed warnings that pensioners could be left at greater risk from 'poor decisions' following the major reforms to retirement savings announced in yesterday's Budget.