I have an old pension (with Profits). I was advised to take it out as soon as I could by my Financial Advisor. Having turned 55 I am now in the process of taking it out. When I was 50 I asked for a calculation for an annuity option. All the options showed a tax free amount of 52%. Now the options show a tax free amount of only 40.17%. What could be the reason to reduce the % of tax free cash from a pension?
