Life's complexities

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ASPs have enjoyed a complex life so far. Billy Mackay charts their progress

If the story of alternatively secured pensions (ASP) were a play, it would be rather long with an unconventional plot. Scene One would begin in the Plymouth area around 1820. The first characters on stage would be a new Christian movement, later to be known as the Plymouth Brethren. This group has a religious objection to forced annuitisation but also retains an absolute belief that one must make provision for oneself and one's family. Their request for an alternative to annuities was met with the introduction of ASPs from 6th April 2006. However, even before their introduction, the Gov...

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