Poor practice has been discovered on all annuity price comparison websites by the Financial Conduct Authority (FCA).
Some 80% of retirees who stick with their pension provider when they buy an annuity could get a better deal elsewhere, pointing to a huge failure in the open market option, the Financial Conduct Authority (FCA) has found.
The conduct of pension providers' annuity sales teams will form a large part of the Financial Conduct Authority's (FCA's) continuing investigation into the retirement income market.
The majority of employers who have begun automatically enrolling their workers are paying in the minimum level of contributions legally allowed, pointing to potential future disappointment for savers.
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Annuity Direct is now under the ownership of Fidelity Worldwide Investment after the deal to buy the retirement specialist was approved by financial regulators.
A panel of pension experts has been appointed to carry out the audit of high cost and legacy defined contribution (DC) workplace schemes, prompted by last year's Office of Fair Trading (OFT) investigation.
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The transition management industry does not warrant large-scale Financial Conduct Authority (FCA) intervention despite State Street being fined almost £23m for overcharging clients.
Labour has vowed to push through a pension charge cap and make using an annuity broker mandatory should it win the next general election.