Annuity sale

The Financial Ombudsman Service (FOS) has ordered national IFA JELF Financial Planning to compensate a client it failed to advise to buy an annuity.

The Treasury wants to make advice mandatory for sales of annuities on the secondary market, it has said in a statement today.

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Second-hand annuity market needs 'strong controls and close policing'

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The Financial Ombudsman Service (FOS) has upheld a complaint against Sesame about unsuitable annuity advice, but refused to side with the complainant about the redress due.

Pension savers withdrew £1.8bn from pots in the first two months following the opening up of the retirement income space, data from the Association of British Insurers (ABI) has revealed.

The government has delayed the launch of a secondary annuity market amid concerns about consumer protection, it has said in its Budget document out today.

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Longevity assessment specialist MorganAsh plans to operate a 'central annuity bureau' in the second-hand annuity market.