Three things we learned this week

FSA concerns over consumer annuity u-turn The Financial Services Authority (FSA) has identified consumers abandoning annuities as a cause for concern in this year's Retail Conduct Risk Outlook. Following the removal of the age 75 rule, low gilt yields and the onset of Solvency II which may further increase the cost of annuities, the regulator expects retirees to increasingly move away from annuity purchase. Alternative products such as income drawdown may not be appropriate. To read more click HERE HMRC urged to clarify annual allowance rules Her Majesty's Revenue and Custo...