From: "Doug Ramage" 
Newsgroups: uk.finance
Subject: Re: annuity?
Date: Wed, 3 Mar 2004 16:41:32 -0000


"dingo"  wrote in message
news:c2513a$bhd$1@sparta.btinternet.com...
> Hello,
>
> When a pension plan matures and one is ready to purchase an annuity, is it
> possible to put in some savings to buy a "better" annuity (better as in
pays
> out more regularly). i appreciate i don't get the tax breaks as when
paying
> into the plan before it matures.
>
> thanks,
>
> Jeff
>
>

You can buy a PLA (Purchased Life Annuity) at any time - this would pay out
more than your "pension" (termed Compulsory Purchase Annuity) annuity, as a
part of a PLA is regarded as a return of capital and not subject to tax.
Whether that is a wise option (probably unlikely) is another matter.

Alternatively, you may have unused pension relief from earlier years which
could enable you to make further premiums to your current policy (or a new
policy)? Again, not necessarily a good option, even if you can.
--
Doug Ramage