Daytona

ASPs are only expensive if you use one of the traditional life assurance companies. People like Sippdeal charge flat rate fees of £150 setup, £10 per pension payment and £75 for the annual review. Other competitive providers include Alliance Trust and Hargreaves Lansdown. Similarly, their low fees apply to USPs as well. As for annuities, the charges in most cases are appalling being percentage based from 1 to 3% of the fund - thousands of pounds for what is a straightforward paper based exercise. Escalating annuities offer poor value for money compared with taking a level payout and investing the excess over the the equivalent escalating payout. I've found that the independent Pensions Advisory Service (TPAS) helpline and website are extremely helpful.