compelling choice

When the government pensions bill comes into force in April 2006, it will no longer be compulsory to...

When the government pensions bill comes into force in April 2006, it will no longer be compulsory to buy a pension annuity at 75 or over - people will have the option of taking Alternatively Secure Pension (ASP) income from age 75. However annuities might still prove to be the best option. People will still have to ensure that their money lasts the whole of their retirement. If they don't buy an annuity, they do not have the benefits of the cross subsidy. And ASP is not the best method for passing on benefits to children, as it will not allow them to access the inheritance until 55. Even ...