Someone self-employed paid into private pension?

Judging by people's responses then annuities don't seem to that popular ?

I don't think so. As well as the fact that as I said earlier, once you buy an annuity you have effectively signed away that capital and if you should die shortly afterwards none of it can be passed onto a beneficiary, I think they are also inflexible. You will only receive the amount of regular income so don't have the ability to take a larger amount should you have the need to pay for something like major household repairs or perhaps private health treatment if you are facing a long delay in the public health system.

However, it is certainly true that they have become more popular in the last couple of years because annuity rates have risen.

'Annuities set to remain popular while economy is in flux' - FTAdviser

I think, perhaps, it depends on whether you have sufficient regular pension income from other sources. If you have, maybe not the best idea to tie up a lump sum in annuity, but if you haven't then the need for regular income becomes more important.

I would not touch them with a barge pole - for all reasons stated by others which I agree with - I found these summaries on the net

'Annuities can provide a reliable income stream in retirement, but if you die too soon, you may not get your money's worth. Annuities often have high fees compared to mutual funds and other investments. You can customize an annuity to fit your needs, but you might need to pay more or accept a lower monthly income.'

and... 'Annuities are considered poor investments for many reasons. Depending on the annuity, these include a variety of high fees, with little to no interest earned, an inability to keep up with inflation, and limited liquidity.'

It is much safer to keep it under your control and not give it all to others who may not return it.

Not necessarily, when taking out an annuity there is usually an option for a residual pension for the survivor of the policy holder, typically 50%.

Both mine have such provisions for my wife. Obviously the monthly benefits were reduced by some proportion but it's far too long ago now to recall by how much, I do remember it wasn't that dramatic of a hit.

Current figures are illustrated here.

Annuity Rates: View Best Annuity Rates from the UK Market (hl.co.uk)

Using the figure quoted by the OP, if he invested his 100k in a high interest savings account or a fixed rate bond (I am currently getting 5% on mine) then when he dies any beneficiary he names in his Will, not just a spouse, will inherit the whole account balance and can continue to receive the same amount of interest as he gets if they open their own account. Whereas according to the figure quoted in the illustration the surviving spouse would be getting less than 5% income and would have no access to the capital if they wanted it for other things. If the OP is not married or in a civil partnership then it would be irrelevant.

When my husband was due to get an annuity from an employer's defined contribution pension scheme I told him not to bother taking a reduced income in order to get a smaller pension for me in the event of his death, because I would have more than enough pension income in my own right. Plus, annuity providers normally use illustrations assuming that the spouse is 3 years younger than the annuity purchaser (as is the case in the figures shown in the link) and the younger the spouse is, the more their survivor's pension will be reduced. I am 7 years younger than my husband.

If the OP is able to invest the funds in a SIPP, it would give the opportunity for the value of them to rise well in excess of 5% a year so even if he took that amount of drawdown income the capital sum would still grow over the years and again whatever beneficiary he cared to name would be able to inherit the whole sum.

However Lynn I think I am right in saying there aren't any Savings accounts or investments ( other than annuities) that will guarantee 5% fixed for an indefinite period. Most are fixed at a max of 5 years and the capital can't be touched. It is high at the moment as the BOE tackled inflation after COVID and the war in Ukraine. The last move by BOE indicated the hope the reduce rates as in US and EU. If this happens then unlikely to be high interest accounts around for long and most likely they will probably flatten out at 2-3 % over the next 5 years. The annuity I looked at was offering 6.9 % . So I agree that annuities maybe lack flexibility and it is always a gamble against statistics they aren't quite as bad as people think. I mean if I left my money in a safe savings account like NSI bond and took £6900 a year it would last me about 15 years( can't be bothered to do actual maths). If I died within that period then what was left could be inherited by my son. So if I start at 65 I would imagine I have a good statistical chance of living to 75 ( I am still fit for my age - just ran 2km in 10 mins) . That would be 2/3 of money gone - leaving my son around 30K. If I got to 80 it is all gone!! And then in all probability I need help. So if I have a UK pension the extra £6900 would certainly help at a time when you don't want to be worrying about money. So- what I am saying- is that annuities could be a good financial deal if you are healthy and can beat statistics ( given the poor health of many Brits). Am I totally wrong? Or is something missing from my reasoning?
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But does the annuity guarantee that level of return indefinitely? In the illustration I posted the figures given are on the basis of either no guarantee or a guarantee for 5 years. So what happens after the 5 years?

Anyway you seem to have made your mind up, so good luck with it.

Well that came from Moneyhelper annuity calculator which is a government site. I just checked and it is £6936 a year until death. This is only for me so no dependent and it is not inflation balance. It is also from now when I am 64. So what am I missing - that makes everyone think I am being a fool? The chances of me surviving 15 years from now seems above an average chance given my health- and after that I would be getting a good return especially if I have my UK pension. Only downside might be the fees and the tax so I don't know how much that impacts on the number. Maybe £1500 a year? Meaning I would be on around £ 5000 a year but still better than a savings account which I very much doubt will being paying 5 % for the next 15 - simply because the world has changed considerably from the 1980s when borrowing and debt was still considered a bad thing. I remember in the late 80s when you got over 10% in savings accounts!!! But that will never happen again iny lifetime. Anyway is it the tax and fees that are the devil's details?