Mr Osborne also outlined a new Pensioner Bond paying market leading rates to be available from January to all people over 65, with interest rates of 2.8% for one-year bonds and 4% for three-year bonds.

http://www.bbc.co.uk/news/uk-politics-26632862

Not sure if they are market leading rates though!
The pension changes were a bit of a bombshell. Not sure if they have thought this through. Ftse took a bit of a hit and some annuity providers shares have lost as much as 30%.
People at retirement need more advice now, but the Govt wants it to be free?

They are market leading 3 year at mom is 2.7%.
|Just a shame that they can't be wrapped up in an ISA

As for annuities. its right that people should have the choice what to do with their pension pot and not be forced into buying an annuity.Might make the market a bit more competitive as well.

It could force the annuity providers to increase their rates or the funds will just flood out of pension funds and into the new savings vehicles.
I hve been receiving at least ! email week fromcompanies who will find the best annuity for you !!
I would think that the lights will be burning late in their offices tonight as they think of ways to compete in the new market.