Pensioners ditch ASP for scheme pension - Rowanmoor

The firm says this is due to the possibility of claiming higher income through scheme pensions, while still benefiting from income guarantees. Since A-day, Rowanmoor has seen 69% of its clients aged over 75 choose a scheme pension, while the rest chose ASP. The firm also expects to deal with a growing number of enquires for scheme pensions as Government Actuary Department (GAD) rates - the measure used to calculate ASP income - fall to an all time low. Scheme pension incomes are separately calculated by an actuary, with Rowanmoor's own actuary using a 4.5% yield to determine the costs...