CHANCELLOR George Osborne is in Southampton today on the day radical new pension reforms were announced.
The Chancellor visited Carnival UK's headquarters in the city centre to brief staff on what the changes mean for them.
Under the proposals, people will be able to take cash out of pension pots in the future to cover the costs of care and other vital needs.
He told staff: "These are the biggest changes to pensions for 100 years.
"If you think about what Southampton looked like 100 years ago, it's a big change.
"I want to see more growth in other parts of the country, like here in Southampton.
"As a country we don't save as much as we should."