Reaching the golden age

One of the most contentious topics remaining in pension planning is the 'age 75' issue and the perceived problem of compulsory annuity purchase at this age. I use the word 'perceived' because, in reality, the compulsion to buy an annuity ended at A-Day in 2006 with the introduction of alternatively secured pension (ASP). This point seems to have been missed by the Conservative party who, in October 2008, requested suspension of the rule that compelled annuity purchase. Post A-Day the issue has concerned the draconian tax treatment of funds that remain on death while in ASP. Many of ...