The Financial Conduct Authority's (FCA) secondary annuities market consultation closes today, but early feedback warns the market is 'high-risk' and that a lack of advice could prevent it becoming a reality.
The secondary annuities market, which is due to be introduced in April 2017, would allow people who have already purchased an annuity to exchange it for a cash lump sum. But the regulator has already conceded...
For a long time, the road to retirement followed a familiar path. Individuals saved up for a pension during their working life in order to retire at a set age; usually around 65. This path has shifted, however.
Only one in ten opt for an annuity
Scheme pays or not scheme pays?
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
Plus online scams