The future of the Alternatively Secured Pension facility

There has been much speculation whether ASP (the facility by which the purchase of annuity at age 75 might be avoided) would be allowed to continue following comments made by the Treasury about the facility being only for those with "strong religious principled objections" to annuities. As a result, representatives from AMPS, the industry body representing both occupational and personal self invested pensions, met with officials from both HMRC and HM Treasury this month. It was reported that the matter was under review, but that there would obviously be no Ministerial activity over the summer recess and the earliest that any further clarification would be issued would be at the pre budget announcement in December.