The Chancellor's pre-Budget report has been slammed as a "damp squib" of "political posturing" that did not deliver promised details on pensions the industry needs.
The only specific news was that couples will get a £14 rise to £117 on joint minimum state pensions from next April.
Chancellor Gordon Brown also stated: "Pensioners will have no income tax to pay unless their income rises above a known specified level."
But he failed to give details of the move.
His speech was criticised for not including reference to stakeholder pensions. But pension providers were relieved he did not axe the 25 per cent tax-free lump-sum or higher rate tax-relief.
Scottish Life marketing consultant Alasdair Buchanan says: "It worries me the stakeholder was not mentioned. From a pensions point of view it was a disappointing speech full of political posturing."
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