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--- pensions:pensions [2016/10/26 10:35] – created peter
+++ pensions:pensions [2020/07/15 09:30] (current) – external edit 127.0.0.1
@@ Line 2: / Line 2: @@
 The 2009 and 2012 pension regulations, related to the Finance Act 2004, allow annuity holders to convert an annuity into a lump sum of £10,000 or less.
+Customers must take the whole pot as cash and it will be taxed as part of their income for that tax year.
+The information had been on government websites since 2009.
 http://www.thisismoney.co.uk/money/pensions/article-3871820/Secret-law-says-cash-annuity-surprise-surprise-insurers-refusing-pay-up.html#ixzz4OBboGC4w