ASP rules mean retirees need to be 'innovative'

Kim Lerche-Thomsen, chief executive of Living Time which in conjunction with AIG Life claims to offer an alternative to traditional lifetime annuities and income drawdown, says the government’s determination - that pension money is taken as income through a lifetime annuity - may be obscuring the flexibility already built in to the rules regarding death benefits. In its response to the petition, which closed on 31 March with 3,949 signatures, the Prime Minister’s Office repeated that ASP was designed specifically for those with religious objections to mortality cross-subsidy, and as a re...