Annuities

The Financial Conduct Authority (FCA) is investigating thousands of annuities sold on a non-advised basis since 2008 to see if they were unsuitable for savers.

Stephen Lowe highlights recent research by the Strategic Society Centre showing the importance of guaranteed income for many retirees.

Consultants see an opportunity for DB schemes

Underwritten annuity specialists Just Retirement and Partnership are set for a £1.7bn merger after retirement flexibilities introduced in April triggered a collapse in the individual annuity market.

Individual annuity sales at Legal and General (L&G) have fallen by more than half this year, and its bulk annuity business has failed to pick up the slack, figures show.

Alan Higham, Fidelity Worldwide Investment retirement director, is to leave the business after 18 months.

Complaints about annuities are continuing to rise more than a year after the Chancellor announced a reform of the retirement income market, according to the latest figures from the Financial Ombudsman Service (FOS).

Former shadow pensions minister Gregg McClymont has been hired by Aberdeen Asset Management to the newly-created role of head of retirement savings

Taking 'freedom and choice' to the masses

Joanne Segars looks at the impact of a Budget that promises further radical change