Any pension advisors on here?

[garycat]

I have a with-profits pension with Phoenix (was Sun-Alliance) that has a guaranteed annuity of about £140K in 2025.

Now they have sent me a letter saying that if they free up all the funds that cover these guarantees, they can use the funds to invest and make more money for the annuity with estimates of £190K to £280K

So, is it worth giving up the guarantee for the increased annuity if it is invested (a bird in the hand vs two in the bush)