FCA fines Pru £23.9m for annuity sales failures

The Financial Conduct Authority has today fined The Prudential Assurance Company Limited £23.875m for failures related to non-advised sales of annuities.

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Editor’s Comment: Is a pensions nightmare on the way?

I must confess I always had reservations about the Pension Freedoms when they were introduced by George Osborne in 2015 and the latest FCA figures seem to back up comments I made at the time.

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Nearly 50% of pension savers access pots with no advice

 

Nearly 50% of pension savers accessed their pension pots in the past 12 months without taking any regulated advice or guidance, The FCA’s Retirement Income Data reveals today.

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LEBC reveals 17% increase in pension pot values

National advisory group LEBC has seen the pension pots of clients buying an annuity grow for a sixth successive year.

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