I already have an annuity

gismo1956

I already have an annuity pension, under new pension rules can I pull out or am I locked in.

Andy_L

You are locked in

westy22

Andy_L wrote: »

You are locked in

Unless you commenced your annuity in the last 30 days or so. Some companies will allow up to 60 days. Any longer though and you are in it for life (literally).

mania112

I spoke to Aviva today and their stance is this:

Normally you have 30 days from the day you sign the application to 'cool off'

but now

You have 30 days from the day the policy is live.

ScottyLP

Also worth contacting the pension provider, as they may refuse to accept the funds back. Which in pre-budget terms wasn't too bad as annuity companys were generally able to hold onto funds whilst you found another provider, but with the changes and more people either wanting to access the funds either through small pot/triv or just defferment of taking the benefits until next year, could prove problematic as they may not have the ability to hold the funds that long or pay out via small pot or triviality.