Annuity after 25%

Notebook

Hi
took 25% from one of my pensions, and the rest has been reinvested with the same well known company.
Q was, could I use the remaining 80k to buy an annuity?
Currently working, so have I to retire to do that?
If available to do now, rates being good I think?, would this be added to my salary for tax, or could I complete but leave the income, possibly being reinvested, until required?
Thanks

Albermarle

Yes you can use the remaining 80% to buy an annuity, or you can leave it invested and draw it down as and when you please.
Obviously the annuity gives you certainty, but you will probably get a better result long term by leaving it invested ( but note the word 'probably')
Whether you are working or retired makes no difference, except maybe from a tax point of view.
If you are working any pension income you take, will be added to your employment income for tax purposes.
If you were retired but not yet in receipt of the state pension, you could take income up to your personal allowance without paying tax.