Three things we learned from the FCA's retirement data

Still no shopping around The proportion of people who took out annuities with an adviser dropped from two-fifths (42%) in 2015 Q4 to one-third (33%) in 2016 Q3, according to the FCA's retirement income data. What's more, shopping around remained worryingly low, with about 60% of annuities being purchased in-house rather than on the open market. "I'm very disappointed to see that people are still not shopping around to get the best deal - either for an annuity or drawdown," said Retirement Advantage pensions technical director Andrew Tully. "The message is clearly not getting through...