The survival of income withdrawal

The first year of alternatively secured pensions has been eventful, but how did income withdrawal survive, what is its future and is it of any use in retirement planning?

One of the cornerstones of A-Day last April was the removal of the requirement to buy an annuity at age 75 and the introduction of income withdrawal post age 75 (referred to as alternatively secured pensions or ASP). The first year of ASP has been eventful to say the least but it does appear to have survived - just. The real question now is whether ASP has a future and is of any use in the retirement planning process. Post A-Day, there appeared to be no real issue other than how inheritance tax would be applied to the residual ASP funds. ASP was never likely to be a mass market product ...