Question: What role can ASP now play in retirement planning?

Aston Goodey is head of business development - annuities at Prudential Pre A-Day ASP strategy was often to minimise income and pass on assets to members of the same scheme, however, the new changes to income limits and unauthorised transfer tax charges will mean this strategy has to be reviewed. With the removal of 0% GAD and with the minimum now at 55% GAD, we believe the strategy will change to clients taking maximum income in the future, using the gifts out of normal expenditure exemption as an IHT strategy. Maximum income limits have also been increased from 70% to 90% GAD which wil...