The Financial Conduct Authority (FCA) will push ahead with its annuity market probe, and investigate if providers' profit margins are ‘high', despite industry murmurings self-regulation goes far enough.
Annuity specialist MGM Advantage, a mutual society, has been sold to private equity firm TDR Capital.
The risks associated with income drawdown remain despite moves to ease pressure on pensioners in the Autumn Statement, providers have warned.
Conventional annuity rates have dropped 7% since June and enhanced rates have fallen 5% in the same period, according to analysis from provider MGM Advantage.
Andrew Tully assesses the potential impact of Solvency II.
As longevity continues to increase Craig Fazzini-Jones believes the pressure is on annuity providers to come up with innovative solutions