What does the Chancellors pension revolution mean for us?

"And so, third, we will completely change the tax treatment of defined contribution pensions to bring it into line with the modern world.
There will be consequential implications for defined benefit pensions upon which we will consult and proceed cautiously.
So the changes we announce will not today apply to them.
But 13 million people have defined contribution schemes, and the number continues to grow.
We’ve introduced flexibilities.
But most people still have little option but to take out an annuity, even though annuity rates have fallen by a half over the last 15 years.
The tax rules around these pensions are a manifestation of a patronising view that pensioners can’t be trusted with their own pension pots.
I reject that.
People who have worked hard and saved hard all their lives, and done the right thing, should be trusted with their own finances.
And that’s precisely what we will now do. Trust the people.
Some changes will take effect from next week.
We will:
cut the income requirement for flexible drawdown from £20,000 to £12,000
raise the capped drawdown limit from 120% to 150%
increase the size of the lump sum small pot five-fold to £10,000
and almost double the total pension savings you can take as a lump sum to £30,000
All of these changes will come into effect on 27 March.
These measures alone would amount to a radical change.
But they are only a step in the fundamental reform of the taxation of defined contribution pensions I want to see.
I am announcing today that we will legislate to remove all remaining tax restrictions on how pensioners have access to their pension pots.
Pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want.
No caps. No drawdown limits.
Let me be clear. No one will have to buy an annuity.
And we’re going to introduce a new guarantee, enforced by law, that everyone who retires on these defined contribution pensions will be offered free, impartial, face-to-face advice on how to get the most from the choices they will now have.
Those who still want the certainty of an annuity, as many will, will be able to shop around for the best deal.
I am providing £20 million over the next two years to work with consumer groups and industry to develop this new right to advice.
When it comes to tax charges, it will still be possible to take a quarter of your pension pot tax free on retirement, as today.
But instead of the punitive 55% tax that exists now if you try to take the rest, anything else you take out of your pension will simply be taxed at normal marginal tax rates – as with any other income. So not a 55% tax but a 20% tax for most pensioners.
The OBR confirm that in the next fifteen years, as some people use these new freedoms to draw down their pensions, this tax cut will lead to an increase in tax receipts.
These major changes to the tax regime require a separate Act of Parliament – and we will have them in place for April next year."

I think that just applies to people with small pension pots ie < 30000 you can take it all out at 55 but I may be wrong....

Thanks for that first link SnowMan, I'll certainly not be piling any more into my pension if they're looking to raise the age for private pensions. I take it this would be one of those changes that would be applied retrospectively (i.e. would it override the T&Cs of my current pension papers that state 55 as my planned retirement age?)