You can move your money to another pension pot and take an income from it. Any money left in your pension pot remains invested, which may give your pension pot a chance to grow, but it could go down in value too.
A quarter of your pension pot can usually be taken tax-free and any other withdrawals will be taxable whether you take them as income or as lump sums.
You will need to transfer to a different pension provider to do this.
You do not need to take a regular income.
If you are an Equitable Life policyholder, and the Proposal goes ahead, the options you currently have will continue to be available.