Why simplified regime could throw up more questions than answers

pensions

Alternatively secure pension income is likely to prove popular in years to come, however it is not a good way of passing on an inheritance to children as they cannot access the money until they are 55

Now that the Finance Act 2004 is in place, we can start planning around the issues that will be relevant to clients up to and beyond A-Day. In some ways the new post retirement tax regime will be more complex, so that simplification may be the wrong word to use. The Government has abolished compulsory annuitisation for pension funds, as Alternatively Secure Pension (ASP) income can be taken from age 75. But before we discuss ASP, let's look at how the new regime is likely to affect different groups of clients. The simplest way to categorise retirees is by the size of their pension fund....