Totally agree and what I was going to post when I made it to the end of this thread ... especially get rid of the lump sum and revert it to a pension based on amount in the fund lasting until average age.
Perhaps have an out where a lump sum can be taken to fund medical requirements.
I don't look it as a tax free pension ... I see people on self funded retirements as saving the government.
They don't draw a pension - they don't get pension subsidies on medical scripts and transport and utilities and rent and whatever else - they usually have private health cover...
