GAD

Scheme pensions are proving more popular than alternatively secured pensions (ASP), according to Rowanmoor Pensions.

Scheme pensions could be a good choice for pensioners in drawdown who have been hit by record low income rates, according to Hornbuckle Mitchell.

Final versions of the maximum drawdown levels available after A-Day suggest drawdown could provide better value than an annuity for those in the earlier stages of retirement.

Under new maximum drawdown levels published for consultation, a person moving to an alternatively secured pension when they reach 75 could see a drop in maximum income of around 40%.