One vulnerable saver signs up to a bad pension every seven minutes

The statistics, seen by Money Mail, highlight how rules - introduced in March to help pensioners get a better payout - are failing. They show that in the first four months after the introduction of the new code, tens of thousands of retirees missed out on the best pension. In fact, despite promises that the reforms would lead to far more people seeking better deals, the figures reveal they had barely any impact. And only a tiny proportion of sick savers get enhanced deals from their pension providers. Alan Higham, founder and director of advisers Retirement Angels, says: ‘Insurers ...