Rule of three

Dear Editor, There has been much publicity recently surrounding calls for the abolition of "compulsory annuitisation". The majority of the views seem to be based on the premise that once someone reaches the age of 75 they have no choice but to purchase an annuity (preferably by utilising the OMO). However, few people seem aware that there are in fact three options for individuals in DC schemes when they reach age 75; lifetime annuity, scheme pension or alternatively secured pension (ASP). Irrespective of the original government intentions for ASP or how these have been altered the fact ...