Are annuity sales the next 'compensation culture' target?

There’s no denying that annuities have become the pensions industry whipping boy. Providers have come under increasing scrutiny after the Financial Conduct Authority (FCA) found itself facing mounting pressure to ensure pensioners get a fair deal. Longer life expectancy, coupled with economic uncertainty and low interest rates, have resulted in annuity ‘doom and gloom’ headlines, peppered with tales of desperate pensioners bemoaning their low income. The resulting FCA thematic review, due to report shortly, should make interesting, and potentially uncomfortable, reading for providers....