UK finance minister George Osborne has unveiled measures, taking effect in April, allowing pension fund holders far more freedom on how to use their portfolios, including unlocking money from such plans.  

“With radical reforms to pensions coming into effect this April, those aged 50 and over will face an increased range of choices both pre- and post-retirement. It is estimated that the new freedom to access pension savings will see an extra £1.5 billion released to spend or invest in 2015. Saga and Tilney Bestinvest therefore believe the demand for high quality financial information and access to trusted advice has never been greater,” Tilney Bestinvest said in a statement.

Saga will inform and drive the proposition design and customer experience, whilst Tilney Bestinvest will provide the investment and financial planning capability and expertise.