The number of annuities purchased fell by more than a fifth while the drawdown market grew 4% in the six months to March, latest data from the Financial Conduct Authority (FCA) has shown.
The FCA's latest data bulletin out on Friday showed the number of annuities purchased fell 21% in the six months between October 2016 and March 2017, while the drawdown market continued to grow. This...
'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’
Only 9,486 applied for the benefit in 12 months