Media playback is unsupported on your device

Budget 2014: Peston on Osborne's big change for pensions

19 March 2014 Last updated at 15:27 GMT

The "big change" for pensions and annuities announced in George Osborne's Budget are explained by the BBC's business editor.

Robert Peston looked at how they will raise "quite a lot of money for the government".

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.