Client approaching 75 has a self invested pension fund after his tax free cash of £165,000. At 75 he either has to purchase an annuity or go into ASP-ie continue to take a pension from the scheme
Interesting an annuity guaranteed for minimum period of 10 years yields £16,000 p.a.The alternative under ASP is £15,000 p.a.The first is guaranteed ,the second will vary according to the investment return and could go up or down.