Questions about annuities

No. Once in payment an annuity cannot be surrendered or encashed.

The Government is consulting on the option to 'sell' an annuity however final rules and guidance on this is not yet available.

Please call us on 01753 653 331 if you would like more up to date information on this.

No. Once in payment the basis of the annuity cannot be altered in any way. For this reason it is vital that you select the features you require when purchasing an annuity.

Any income taken from your pension would be taxable at your marginal rate. Any tax would normally be deducted by the pension provider at source.

Important Information
Remember a pension is designed to provide you with benefits when you retire. 
The guidance and/or advice contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. 
The Financial Conduct Authority (FCA) does not regulate some forms of Tax and Wills advice.