Assessing retirement income options

The recent HM Treasury consultation, "Removing the requirement to annuitise by age 75", has been widely discussed and the response from HM Treasury is eagerly awaited. Let's get the pedantry out of the way first. There is no requirement to annuitise by age 75 and there has not been since the advent of alternatively secured pension (ASP) in 2006. Until 1995 annuity purchase was the only real opportunity of converting a pension fund into an income stream. In 1995 the introduction of income drawdown (now unsecured pension or USP) radically changed the retirement landscape. Annuitie...