Morrison on retirement income

One of the promises of both the Conservative party and the Liberal Democrats in their manifestos for the recent general election was the removal of compulsory annuitisation.  Compulsory annuitisation up to age 75 effectively existed until 1995, with the introduction of income drawdown (now unsecured pension or USP) and beyond age 75 with the introduction of alternatively secured pension (ASP) in 2006, although the rather draconian tax regime (potentially 82%) has meant this is an option that is rarely used.   An alternative option post 75 is that of scheme pension – another option tha...