Bernard footittOn pensions

Is all the fuss about the Alternatively Secured Pension (ASP) just hot air? Originally said to be a...

Is all the fuss about the Alternatively Secured Pension (ASP) just hot air? Originally said to be a response to religious groups with ethical objections to annuities, the ASP has become a minefield for both advisers and the government, with many commentators saying the government's approach is unworkable. However, the new pension rules allow clients to take income as a scheme pension or a lifetime annuity, and ASPs are rapidly becoming less attractive. Whereas a lifetime annuity is purchased from an insurance company, a scheme pension can be paid from the resources of the scheme itself. T...