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Annuity comparison site

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  • Malthusian
    Malthusian Posts: 11,055 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Mick70 said:
    it was the whole £250k being converted   (at £9.2k pa there would be no tax to pay anyway)
    There would be for most of the lifetime of the annuity, after you draw your State Pension. (Unless you die early in which case you lose more to the insurer than you would have via optional tax. Especially with an inflation linked annuity.)
  • westv
    westv Posts: 6,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 7 September 2023 at 1:19PM
    Mick70 said:
    Mick70 said:
    tried this just for a general idea
    £250k pot retiring at 57, no real health issues , gave £9.2k rising with rpi annually  (ends on death)
    Is that £9.2k after taking a £62.5k TFLS or is the whole £250kcbeung converted into (taxable) annuity?
    it was the whole £250k being converted   (at £9.2k pa there would be no tax to pay anyway)
    Assuming there was additional no income but don't forget SP would come into it at some point.
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