The younger you are when you purchase your annuity, the less of an income you will get, as the provider will assume that they will have to pay you an income for a longer period. Although you can purchase an annuity from the age of 55 (please note the government has confirmed this will change to age 57 from 2028), there is no requirement for you to actually retire when you start to receive your annuity income. When you purchase your annuity is up to you – just keep in mind that the older you are, the greater the annual income you are likely to receive.