Bell attacks Balls over ASP proposals

The proposed changes would result in a minimum income requirement of 65% of the annual amount of a comparable annuity (for a 75 year old) that could be purchased with the fund. In addition, the maximum annual withdrawal of income will increase to 90% of the annual amount of a comparable annuity that could be purchased with the sums and assets in the fund; the transfer lump sum death benefit option will be removed from the authorised payment rules; and transfer lump sum death benefits will be unauthorised and attract payment charges of up to 70%. Bell says the firm has had a deluge of cal...