article_snippet: Millions more pensioners will be able to cash in Millions more pensioners retirement deals under reforms to be announced this week.
article_snippet: George Osborne's will use this week's Budget to grant the option to five million UK retirees stuck on rip-off annuity rates.
article_snippet: George Osborne's will scrap punitive tax charges of up to 70 per cent for pensioners who want to sell their annuity income so their are taxed only at their marginal rate .
article_snippet: George Osborne's policy will give those who have already taken out an annuity the right to cash it in for a lump sum from April next year.
article_snippet: The planned annuity reforms will give pensioners the same opportunity to access retirement funds as Mr Osborne announced last year for those who had not already taken pensioners pensions.
article_snippet: Removing restrictions will allow pensioners to either take the cash as a lump sum or place the cash in a so-called 'drawdown' product to use the proceeds more gradually.
article_snippet: Mr Osborne policy will give those who have already taken out an annuity the right to cash it in for a lump sum from April next year .
article_snippet: Mr Osborne will scrap punitive tax charges of up to 70 per cent for pensioners who want to sell their annuity income so their are taxed only at their marginal rate.
highlights_snippet: Pensioners will be able to cash in Pensioners retirement deals under reforms .
  
highlights_snippet: Chancellor will allow those who have taken out annuity right to cash it in .
  