Pension outside of annuity

_bankrupted

Hi Looking for some advise regarding pensions.

Now being outside of a final salary pension scheme, I am looking at alternatives that would give me financial control and flexibility without having to purchase an annuity at retirement. Are there any such products? The only reason that I am considering a pension, as opposed to investing sensibly myself, is due to the tax incentive that they offer.

Any help greatly appreciated.

_bankrupted

Reading the sticky ISA v Pensions thread now (all 222) posts.

My ISA's are already "maxed out" since they were introduced and I am a higher rate tax payer.

The question is really about squeezing the best out of the pension world.

EdInvestor

It's possible now to avoid annuity purchase via income drawdown and "ASP" post 75. Though you still cannot pass on tax relieved funds to your children, the requirement to convert your capital at a fixed point into an income for life has gone and if you die before age 75 you can pass most of it on.

_bankrupted

Thanks,

I got to about post 72~73 before logging off. I'll look into ASP's