Took a small pension when i was 50 and been receiving it for last 10 years (about £45 a month .) The pension company has now offered me to cash it in for a lump sum worth about 16 times the annual amount. . Seems a no brainer to me although may have to pay tax. Anyone else had similar and any other things to consider..

General rule is to keep it running as a pension except in certain circumstances.

If you have any significant loans or mortgages it would pay to get lump-sum.

Ignoring the lump sum you will receive, does that £45 make a noticeable difference to your standard of living?

Have you got any necessary expenses you have been holding off (car, roof etc). Or will be likely to in the coming years?

Assuming you are going to live at least 16 years it’s not a good deal.

I doubt it will only be a small amount of tax on it.

I might pm you more over the weekend.

Thanks DD thats fine You covered much of what i thought. £45 in 10 years time not going to be worth much with prices rising. Currently annual expenditure is exceeding income so been dipping into savings last few years. Getting some new windows put in so could do with extra cash