The snake bites the ASP

Key points * Compulsory annuity purchase has gradually been eroded. * What are the advantages of a scheme pension introduced by FA 2004? * The 2006 Pre-Budget Report made it unattractive to bequeath ASP funds. * It will also not be tax efficient to pass on scheme pensions.

THE 1963 EPIC version of Cleopatra starring Elizabeth Taylor and Richard Burton nearly sank Twentieth Century Fox. In contrast Carry on Cleo (1964) was immediately profitable although the demise of Cleo via the asp was not its highest point. The film's most famous line in fact once voted the funniest in film history was cried out by Kenneth William's Caesar at the moment before his demise 'Infamy infamy they've all got it in for me!'
These days things seem to have turned a full circle because it is the ASP...