From: Derek ^ 
Newsgroups: uk.finance
Subject: Re: Fees for a Pension Withdrawal Plan
Date: Wed, 26 Apr 2006 17:39:54 +0100

On Wed, 26 Apr 2006 11:39:59 +0100, Daytona  wrote:


> explains the
>background. Unsecured pension (USP) is what your refer to as a Pension
>Withdrawal Plan (different providers have different names just to
>confuse the issue). This continues until you're 75.
>
>If you still don't want to purchase an annuity then you need to join a
>religious grouping such as the Plymouth Brethren, which will enable
>you to use an alternatively secured pension (ASP) until death.
>
>
>

I knew that was the case prior to the recent changes, but I had an IFA
round here yesterday selling SIPPs to me and my wife. He made no
mention whatsoever of this problem at age 75, he said our children
could be enrolled in the same scheme and the fund would be passed on
to them (as a pension fund) at the second death of myself/wife.

Presumably buying an annuity at 75 would yield a really good bonanza
pension given the short life expectancy at that age. Does it really
happen?  What annual pension could a male, 75 , expect to get by
purchasing £200k's worth of annuity?

I fail to see why the Gov. is so hooked on getting people's private
pension moeys into annuities come hell or high water.one would almost
begin to suspect that their motives are not protecting the interests
of the pensioner, first and foremost.  ;-)

DG