Can I use a defined benefit pension to buy an annuity?
Find clear, straightforward answers to common questions about pensions, retirement planning, investments, fees and charges, and the services we provide.
Not directly. Defined benefit pensions already include guaranteed income. However, if transferred to a defined contribution scheme, an annuity could then be purchased – though this requires specialist advice.
Also In this section:
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Can I combine an annuity with drawdown?
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How are annuity rates calculated?
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When’s the best time to buy an annuity?
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Can I leave money to family?
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Are annuities protected if the provider fails?
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Do I need financial advice?
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Can I have more than one annuity?
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Can I use a defined benefit pension to buy an annuity?
