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.
Hargreaves Lansdown's five-point plan for retirement income reform
The FCAs' thematic review of the annuity market has been criticised as not going far enough fast enough.
What does the industry want from the FCA annuity paper?
When is the right time to talk LTC funding with clients?
In this week's quick-fire poll we ask: Should there be a mandatory annuity broking service?
Annuity Direct is now under the ownership of Fidelity Worldwide Investment after the deal to buy the retirement specialist was approved by financial regulators.
Aegon product director Colin Bell dissects Steve Webb's switchable annuities plan
Labour has vowed to push through a pension charge cap and make using an annuity broker mandatory should it win the next general election.