All drawdown limits were vaporised. All product compulsion was annihilated. Single annuities, and those who got rich off them, have been shaken to their very core. Billions of pounds have been wiped off the value of life companies, especially those specialising in annuities.

But amidst the shock and awe - and in the time before the full reforms come into force - there is optimism. People are thought likely to choose to save more into what had become for some a complex and discredited vehicle; they will certainly welcome the freedom to choose more tailored income options.

Before the revolution come the questions: what will the product options look like in a year, what are the options in the intervening months, what of the new guidance guarantee to protect against pernicious profligacy among to-be pensioners?

This special report will elucidate the key questions around the changes, and offer the views of leader commentators and experts on where the market goes from here.

This special report is sponsored by Aviva. All editorial is independent.