Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
It has not been compulsory to convert your pension pot into a pension, by say buying an annuity, since April 2011 nor is it compulsory to take your pot at 75. However, although some policies were amended to permit this some were not. If you have one of the latter you will still have to convert despite it being no longer compulsory as it used to be.
Draw down is now the more popular approach, particularly as annuity rates are so low. However any draw down over the 25% will be taxed at your marginal rate so if you are in a higher tax bracket, say the 40% one, then the draw down will be so taxed.
There is now a maximum size to your pension pot, currently it is 1.25 million, but in April 2016 it drops to 1 million. Any withdrawals from a pot over that limit is taxed at 55%.
You can fiund a resume of the new rules from the BBC here:
I do hope my reply has shed some light on your position. You must check the wording of your policy as 75 could be the trigger point which it always used to be.