MGM

Some 80% of retirees who stick with their pension provider when they buy an annuity could get a better deal elsewhere, pointing to a huge failure in the open market option, the Financial Conduct Authority (FCA) has found.

The FCAs' thematic review of the annuity market has been criticised as not going far enough fast enough.

Retirement Planner's round-up of the top pension stories this week.

Hundreds of millions of pounds of retirement income is being lost as retirees remain stuck in the ‘clearly broken' internal annuity market, MGM Advantage has said.

Equity release specialist Stonehaven has been bought out by annuity provider MGM Advantage.

ANNUITIES

The after effects of the Bank of England's quantitative easing (QE) programme will continue to plague annuity rates for "many generations" to come, according to MGM Advantage.

ANNUITIES

Annuity rates would have to improve by at least 6% from today's rates to make any delay in purchasing a retirement income worthwhile, says a new report.

WORK LIFE