Steve Block

Hi HMRC, I've got multiple workplace pensions that I am trying to consolidate into one or two larger pension pots. If I want to use one of these to buy an annuity next year (when I start receiving my state pension) and assuming that I don't take the 25% tax free lump sum but invest 100% of my pension fund into an annuity; do I have to pay tax on the pension fund when I use that pension fund money to buy an annuity? I understand that I need to pay tax on the annual/monthly payments that the annuity provides once its setup - I just wanted to understand if I am required to pay tax twice (once to initially buy an annuity and then again on the regular payments that the annuity provides)?