Clampdown and clarity: Can the FCA annuity review deliver?

The £12bn annuities market has been bothering both politicians and the regulator for some time. Sold at a rate of 400,000 each year, annuities are one of the main building blocks of the British pension system. Sales are also expected to double in the coming years as the number of maturing pension plans continues to rise and auto-enrolment comes to fruition. But there are concerns that the market is too complex and confusing for consumers which, in turn, prevents them from securing the best deal. More than half of retirees simply stick with their pension provider in retirement, renderi...