Dymott's Digest: Was Budget 2014 the UK's 401k moment?

Was Budget 2014 the UK's 401k moment?

If the US has successfully 'consumerised' retirement, what might Budget 2014 do for UK savers? Fidelity's Ed Dymott ponders Britain's 401k moment...

George Osborne's drive to increase pension freedom and flexibility, combined with auto-enrolment into pensions, has the potential to transform retirement like never before. It has been said a few times, but I really feel this could be the UK's 401k moment. The changes announced last month coupled with those made over the last few years represent the most significant overhaul of the UK retirement system in living memory. The 401k market has transformed the habits of US investors over a generation. Individuals in the US are generally more engaged in their finances and understand t...