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?NHS Superann. Scheme
ipri
Posts: 649 Forumite
Is it true that I dont have to buy an annuity with my Superannuation lump sum??
Thanks Ian
Thanks Ian
0
Comments
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no you dont. Its you lump sum to do with what you wish.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks DD ...Is this a special case?...I thought many folk had to purchase an annuity.?? Ian0
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Occupational schemes have a tax free lump sum entitlement and the income is paid from the scheme so no annuity is involved anywhere.
Personal pensions (individual or group) have a 25% tax free lump sum for whatever you like with the remainder being used to purchase an annuity.
An AVC or Free Standing AVC has to purchase an annuity with no tax free lump sum (although that changes after 2006).
Perhaps you are thinking about AVCs?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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