It's important to shop around and compare providers as you might find other options or a better retirement income.
We recommend you seek appropriate guidance or advice before you make any decisions. You can also get free impartial guidance over the phone or face to face from the age of 50 with Pension Wise a service from MoneyHelper. Go to moneyhelper.org.uk/pensionwise or call 0800 138 3944.
If you want to use a financial adviser, you should always make sure they're authorised by the Financial Conduct Authority (FCA).