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I take ￡3k a year from my ￡50k 年金マリファナ - should I buy an annuity? Steve Webb replies

By Steve Webb for This Is Money

Updated: 07:00 BST, 11 March 2024

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年金マリファナ決定／判定勝ち（する）: Should I consider 停止（させる）ing drawdown and buying an annuity? (在庫／株 image)

I retired in 2021 and moved one of my 年金マリファナs to a large 会社／堅い経由で a 財政上の助言者.

After taking my 25 per cent 税金-解放する／自由な lump sum I was left with just under ￡50,000.?

From this, I agreed to take ￡3,000 per year for five years, starting in March 2022.

I am now wondering if I would be better off if I discontinued the 現在の drawdown (three years still to go) and took the remaining 量 as an annuity given that 利益／興味率s are much higher now and therefore I assume annuities will have 改善するd also.

Would I have to use the same 会社／堅い for the annuity as they 現在／一般に持つ／拘留する my 年金マリファナ or am I able to shop around and will the 移転背負い込む any 料金s?

SCROL L DOWN TO FIND OUT HOW TO ASK STEVE YOUR PENSION QUESTION

Steve Webb replies: In a world where many people reach 退職 with very small 年金マリファナs, the most ありふれた choice by far is to cash in the whole lot, taking a 税金解放する／自由な lump sum and 支払う／賃金ing 税金 on the 残り／休憩（する）.

But, over time, more people will be in the same position as you, having built up a more meaningful マリファナ.

In this 事例／患者, cashing in the whole lot may not be the best 選択 as you could 直面する a big 税金法案 and you may 行方不明になる out on the chance to grow your マリファナその上の.

The question then arises as to how your money should be 投資するd 地位，任命する-退職.

Got a question for Steve Webb? Scroll 負かす／撃墜する to find out how to 接触する him

Under 支配するs 始める，決める out by the 財政上の行為／行う当局, your 年金 provider has to ask you about your 計画（する）s for the next five years, and will then make choices about how your money is 投資するd based on your answer.?

This 過程 is known as putting you on an ‘投資 Pathway’.

Under the 支配するs, you are given four 選択s to choose from regarding your 計画（する）s:

A. I have no 計画（する）s to touch my money in the next five years;

B. I 計画（する） to use my money to 始める，決める up a 保証（人）d income (annuity) in the next five years;

C. I 計画（する） to start taking my money as a long-称する，呼ぶ／期間／用語 income in the next five years;

D. I 計画（する） to take out all my money in the next five years.

As you might imagine, the best way to 投資する your money might be rather different if you don’t need to touch your money at all for five years as against if you are going to take the whole lot out.

The idea of this 過程 is to enable your 年金 provider to 始める，決める things up in a way which best fits your 意向s at 退職.

However, a very important point to be aware of is that you are not bound by the answer you give, and you can change your mind at any point.

You could also 変化させる the 量 you draw 負かす／撃墜する, but always check the 支配するs first in 事例／患者 there are 限界s or costs to having more 柔軟性.?

In your 事例／患者, it sounds as though at 退職 you took your 税金解放する／自由な lump sum but decided to leave the 残り／休憩（する） of your マリファナ to be 投資するd, 製図／抽選 a 比較して modest sum each year (選択 C from the 名簿（に載せる）／表（にあげる） above).

投資する your 年金, buy an annuity - or do both??

A 12-step guide to 投資するing your 年金 and living off drawdown in 退職

How to 連合させる drawdown with an annuity to maximise your 年金

利益／興味率 rises 上げる annuity 取引，協定s - what's on 申し込む／申し出

But you are 完全に解放する／自由な to do something different with your drawdown 基金, whether because your circumstances have changed or because market 条件s have changed.

ーに関して／ーの点でs of using your 基金 to buy an annuity, the normal 過程 would be for you to be given what is called an ‘Open Market 選択’.

In simple 条件 this means you can take your money to any annuity provider and so you should shop around for the best 率 you can get based on your own individual circumstances.

I would be surprised if your drawdown provider 告発（する），告訴（する）／料金d you for deciding to move out of drawdown but you should of course check with them before making any 決定／判定勝ち（する）s.

On your wider point, you are やめる権利 that annuity 率s are now 一般に a lot higher than they were when you first took your 年金 a couple of years ago. But the 率 of return you can get on money 投資するd in your 年金 is also likely to be higher.

If you carry on 投資するing you will be taking some 投資危険 but you will 潜在的に利益 from a growth in the value of your 基金.

On the other 手渡す, if you buy an annuity you will enjoy the certainty of a 保証（人）d income but probably get a lower return 全体にわたる.

The 権利 answer will depend on your individual circumstances and how comfortable you are with the 不確定 of 投資するing.

I have covered some of the プロの／賛成のs and 反対／詐欺s of buying an annuity in my previous column here: What is the best age to use my ￡220k 年金 to buy an annuity?

Ask Steve Webb a 年金 question

Former 年金s 大臣 Steve Webb is This Is Money's agony uncle.

He is ready to answer your questions, whether you are still saving, in the 過程 of stopping work, or juggling your 財政／金融s in 退職.

Steve left the Department of Work and 年金s after the May 2015 選挙. He is now a partner at actuary and 協議するing 会社／堅い小道／航路 Clark & Peacock.

If you would like to ask Steve a question about 年金s, please email him at pensionquestions@thisismoney.co.uk.

Steve will do his best to reply to your message in a 来たるべき column, but he won't be able to answer everyone or correspond 個人として with readers.?Nothing in his replies 構成するs 規制するd 財政上の advice. Published questions are いつかs edited for brevity or other 推論する／理由s.

Please 含む a daytime 接触する number with your message - this will be kept confidential and not used for marketing 目的s.

If Steve is unable to answer your question, you can also 接触する MoneyHelper, a 政府-支援するd organisation which gives 解放する／自由な assistan ce on 年金s to the public. It can be 設立する here?and its number is 0800 011 3797.

Steve receives many questions about 明言する／公表する年金予測（する）s and COPE ? the 契約d Out 年金同等（の）. If you are 令状ing to Steve on this topic, he 答える／応じるs to a typical reader question about COPE and the 明言する／公表する年金 here.

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