Frequently Asked Questions

Do I have to purchase an annuity when I take benefit from a personal pension?

Most personal pension providers require you to purchase a compulsory pension annuity when you take benefit either from them or from another annuity provider. Self Invested Personal Pension Plans and a few personal pension providers allow a pension member to defer taking a pension until age 75 or as an alternative take what is known as a drawdown income from invested funds.

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