AVC and annuity

U've_been_framed

I retire next year. In the past I paid a small amount into AVCs run by Equitable Life and Standard Life. The total comes £904. I can take 25% of this as cash, but the rest has to go towards an annuity.
Is any company going to give me an annuity on such a small amount?
If not, then what is the smallest sum that I could use to purchase an annuity?
Is there any alternative to purchasing an annuity? The company pension scheme tells me no.

McKneff

Is this the only pension you have.
there is a triviality law now that if all your pensions add up to something like £15k you can withdraw the whole sum in cash

MrChips

You say these are AVCs - does that mean you have a main occupational pension in addition?

If so, and it is a defined benefit pension, you may be able to take all your AVCs as cash and take a slightly reduced lump sum from your DB pension? Will depend on cooperation from the Trustees (and the wording of the Scheme Rules).

McKneff

sorry, didnt read your post properly, missed the AVC bit
so presumably you have a 'proper' pension.

I agree with MrChips entirely