In the United States we have Social Security as a source of retirement income. In this system taxes are collected from current workers and paid out to current recipients. The amount received upon retirement will depend on the lifetime earnings of the workers. This is referred to as a "pay as you go" system. In Great Britain they have a mandatory retirement saving system. In this system the required amount of retirement saving (as a percentage of income) is automatically deducted from your paycheck and is placed into a retirement account for you. Beginning in 2015 retirees in Great Britain could choose to take the entire amount upon retirement or purchase an annuity. If you lived in Britain would you choose to take the full amount at retirement or purchase an annuity. Explain your choice.