Scheme pensions can beat low income rates - Hornbuckle

Retired people with an unsecured pension (USP) or alternatively secured pension (ASP), will have seen their incomes hit at a time when their pension pot is also falling in value, and Hornbuckle claims scheme pensions could offer a solution. USP and ASP incomes are based on the Government Actuary's Department (GAD) rate calculations. These rates, which have been calculated for the past 12 years, have hit an all time low due to falling gilt yields. Mary Stewart, director at Hornuckle Mitchell, says: "The current GAD rate of 3.25 per cent is about one-third lower than its long-term averag...