The Tories' individualist, messy pensions policy provides boost for some

Prime minister David Cameron's policy-laden speech to his party's conference today put this week's abolition of the 55 per cent pensions inheritance tax at the heart of its message to core voters.

For the second time this year, it has not been the most impressive communication effort for the Tories' pensions policy. The annuity-busting Budget promised free, face-to-face advice that quickly turned into 'guidance' that was free, but not necessarily face-to-face and definitely not advice.

This time, there was a little bit of a gloss-over on the 45 per cent tax charge that would, at least until 2016/17, be levied on any lump sum that was passed to beneficiaries if a person died after age 75.

And three days after the announcement the Treasury was still explaining the limits of the policy, to the bemusement of the Twittersphere:

@JosephineCumbo is this what policy on the hoof looks like?

— Will Aitken (@WillJAitken) October 1, 2014

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