Citizens Advice has welcomed the Chancellor's proposals on pensions in his Budget speech.
Citizens Advice chief executive Gillian Guy said after the announcement: “The proposals to free up pensions are welcome, particularly the new ‘right to advice’, which recognises the significant value of impartial, trusted advice.
“People who are able to put money aside into savings will find an increase in how much they can save tax free helpful.
"But the Chancellor does need to remember that for many people, saving money is a pipe dream as they are struggling to make ends meet."
The pension changes announced in the Budget yesterday are a risk and based on "highly uncertain assumptions", according to a think tank.
Critics warn the major changes to retirement savings could leave pensioners short if they don't make the right decisions.
The annuity provider welcomed the Chancellor's pensions changes despite the firm's share price dropping 8% after the Budget announcement.