The pension reforms that come into effect next month create the potential for tens of billions of pounds to be transferred out of pension funds and into the wider economy. The actual amount that will be withdrawn and spent will probably only be a small fraction of that, but it should nonetheless provide a bit of support to the economic recovery. And the impact could be rather greater if the Chancellor extends the reforms to allow pensioners who have already bought annuities to sell them.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services