Moret on the new pensions regime

This year promises to provide the biggest shake-up to the retirement options market since income drawdown was introduced in 1995. I estimate that there are more than 250,000 investors currently using income drawdown – or Unsecured Pension (USP) as it is currently known – with a few thousand investors over age 75 using Alternatively Secured Pensions (ASPs). That suggests a market today of about £30bn. This market was set to grow through demographic change, but it has now been given an additional boost as result of the legislative changes confirmed by the Treasury at the end of last year. ...