Pre-Budget report says RIP to Asps

Last week's pre-Budget report effectively killed off the alternatively secured pension (Asp) as the ...

Last week's pre-Budget report effectively killed off the alternatively secured pension (Asp) as the Government went to war on passing retirement assets down the generations. While such disdain for inherited wealth is a refreshing reminder of actual socialist policy for the Labour party, it smacks of overkill for what would only ever have been a niche product. Despite the press attention garnered by Asps, the industry has questioned whether the product would ever have turned into a pension option taken up by the masses. Among the largest drawdown players in the market, Standard Life has on...