Government pensions U-turn brings relief for people in final salary schemes

The government is introducing the Pensions Bill today with a fair amount of fanfare. Pensions Minister Steve Webb (pictured) claims it is "a package of radical reforms to encourage a flourishing private pensions market that has the flexibility to provide sustainable retirement incomes for millions of savers in the future." And while few people will be quite as excited as Webb about the bill, millions of them should actually be mightily relieved.

Because one of the big threats to their pension proposed in November isn't in the bill any more.%VIRTUAL-SkimlinksPromo%