Buy annuity from Scottish Widows?

dunstonh

ON this basis it would appear to me you should wait until 24 Dec 2007 to claim it, at which point there will be no penalty and you can take 25% tax free cash.

Or get an IFA to write to Scot widows for a full breakdown of the policy so you know one way or the other. That would remove all the guesswork.

Channelman

Sorry (to both of you....Ed & dunston) the £19,400 was a typo and
should have read £29,000.
Thanks for both your answers.....I'll probably finish up leaving it
where it is or ask SW for a pension quote .... after Apr 2006.
Thanks again
Channelman

EdInvestor

Thanks for both your answers.....I'll probably finish up leaving it
where it is or ask SW for a pension quote .... after Apr 2006.

You should also shop around: you might have to get an IFA to do this, as information about the special rates for unisex SERPS annuities is not readily available. Neither are the GAD drawdown limits for these funds.

This is something the FSA should address with a separate list of tables as these annuities are usually quite small and many people need every penny of the income obtainable.

It might be worth checking with www.cavendishonline.co.uk to see if they will rebate the annuity commission and can point you to a list of updated rates from providers.