Annuities: Regulator warns “market not working for consumers”

Retirement planA review by the Financial Conduct Authority (FCA) has found that the Annuity market is not working for consumers. The regulator will now launch a further review, which will recommend changes to the market. An Annuity is the most popular way of turning a pension pot into an income at retirement. Whilst it provides a guaranteed income and is often seen as a relatively simple option, there has been increasing criticism of Annuity providers and brokers over the past few ...

Annuities: Too many people still not shopping around for the best Annuity rate

New research from Age UK Enterprises, part of Age UK, has shown that the message about shopping around for the best Annuity rate is still not getting through to many people. The survey found that 31% of people who had already bought an Annuity, did not shop around for the best Annuity rate and that they were not told by their existing pension provider they might be able to get a higher income elsewhere. Falling Annuity rates make shopping around more important Over the past three years Annuity rates have fallen by around 20%, and by 7% over the past three months, making ...

Bank Holiday boredom? 5 financial jobs to tackle

The plethora of Bank Holidays coming up over the next few weeks will hopefully give you the chance to a bit of 'R & R'. However, it could also be an excellent time to tackle a few financial jobs that you may have been putting off for a while. We thought we'd help you along with five things you could take a look at over the longe weekends ahead. 1. Review your savings So many people are getting a poor rate of interest on their savings; did you shop about for the best rate a few months or even years ago and then do ...