Now I no longer have to buy an annuity, why on earth would I want to consider it?
While pensions legislation allows you almost unlimited scope to do what you want with your fund, it isn’t necessarily the best thing to do for everyone.
The quality that an annuity brings to retirement is certainty. Once you have bought an annuity, it will be paid for the rest of your life. There is no risk, you will have a predictable income and it will never run out.