Annuity providers must tell clients the ‘gain’ from shopping around

The FCA is to require annuity providers to inform clients how much they could gain from shopping around and switching provider before they purchase an annuity under plans announced today.

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ABI reveals £8.2bn withdrawn from pension pots since freedoms

New figures from the ABI, which is holding its annual conference today, reveal that £131 million is now being paid every day paid to customers by UK insurers and long-term savings providers.

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'Annuity plan axe defuses misselling Timebomb'

Another misselling scandal has been prevented after the ticking ‘timebomb’ of annuity re-sales was defused.

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Govt axes plan for annuity re-sale market

The Government has axed plans for a secondary annuities market over fears about consumer protection in a surprise announcement late this afternoon.

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