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Now, if I were a screaming lefty Tony I'd be accusing you of making ageist (and possibly sexist) remarks there! I stand to be corrected, but from what I've seen so far of the new pensions rules they simply increase people's choice. The nanny state is retreating from its one-size-fits-all dictats. Sure, a few people will blow the lump sums and foolishly pay more tax than they need to. But, as long as they are warned of the consequences, it's their choice, and they shouldn't expect the state to bail them out. Only socalists wouldn't respect the god-given intelligence of others to be able to make the right choice for themselves. And remember, what produced your pension in the first place was that evil thing "profit". In a free market profit is the difference between the production cost of a voluntary producer, and the perceived value to a willing buyer, in a free market where other producers can employ their skills to produce a possibly better deal. Nobody rips anyone off, as the price and quality of goods and services are decided by nothing other than the supply. It can sometimes get a bit messy, but if left well alone it's the finest mechanism nature has to ensure the best possible deal for everyone. It's total hypocrisy for a trade unionist to use the "profit" word as an expletive; everything they have and everything they do is driven by the prospect of an honest profit.