Income Drawdown Vs Conventional Annuities – Pensionfinder
Both options have their plus and minus points as well as their opponents and proponents. Below is a list of the main pros and cons of Conventional Annuities and Income Drawdown/Alternatively Secured Pension.
Alternatively Secured Pensions/Income Drawdown
Alternatively Secured Pension
With an ASP, an income must be made available for your dependents or spouse regardless of whether it comes in the form of income drawdown or an annuity. In the event that you have no beneficiaries, the entire value of the fund at the time of your death will be given to a charity of your choosing with no inheritance tax necessary.