Osborne unveils radical changes to UK pensions

Shares of Hargreaves Lansdown are at the top of the leaderboard, after the Chancellor today announced that savers will soon benefit from a new breed of tax-free ISAs.From July 1st 2014 investors will be able to put up to £15,000 pounds worth of stocks or bonds into what have been denominated as New Individual Savings Accounts, or NISAs. The rule banning investors from only being able to transfer funds from cash ISAs into stocks, but not the other way around, has also been abolished, Elissa Bayer, Senior Investment Director at Investec Wealth & Investment explains. As a part of what Bayer described as a "radical change" to the pension system half a million people will no longer have to buy an annuity.Legal and General is the worst stock now on the top flight index.AB