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Queen's Speech: Pension proposals explained

4 June 2014 Last updated at 17:44 BST

Plans for dramatic changes to pensions took centre stage in the Queen's Speech.

The government has abolished the requirement for people to buy an annuity, and wants workers to contribute to "collective pension" funds which they will share with thousands of other pensioners.

The BBC's Business Correspondent Simon Jack takes a closer look at the proposals.