April 10, 2017 18:25 Updated Follow No. Converting your Annuity Savings Account (ASA) into an annuity payment is an option, not a requirement. Related articles How do I annuitize? What is an annuity? What is the PERF Hybrid Plan? If I defer annuitizing my Annuity Savings Account (ASA) until after I have started receiving benefits, what rate can I expect? What is the current annuity rate?