Annuities: FSA to investigate the Annuity market

working paper with a diagramThe Financial Services Authority (FSA) is to announce that it intends to investigate the Annuity market to see how many people are losing out by not shopping around for the best Annuity rate when they retire. The Annuity market in the UK is worth a reported £11 billion each year to the insurance industry. However, there has been rising concern amongst leading financial experts and special interest groups that would-be retirees are losing out by buying uncompetitive Annuities....

Annuities: Greater Annuity rate transparency on the horizon

People retiring in 2013 should be able to get a clearer picture of the rate offered by each Annuity provider, if new plans outlined yesterday come into force. At present would-be retirees can only complete a full pension Annuity comparison by engaging the services of an Independent Financial Adviser (IFA). This is because some Annuity providers do not accept business directly from the public and others do not appear on online pension Annuity calculators. However, the Association of British Insurers (ABI) yesterday announced plans to force all Annuity providers to disclose the Annuity rates they offer. Under the proposals the ...