Each year 420,000 annuities are sold in the UK, and now UK watchdog the Financial Conduct Authority (FCA) has pledged to shake up the GBP 14 billion-a-year market, after finding it “disorderly.” The news comes after an extensive review by the FCA which covered the 25 most popular annuities firms covering 98% of the market. […]
Pensioners forced to sell homes to fund retirement
August 26, 2013
Over a quarter of struggling British homeowners aged over 65 plan to sell their properties to raise extra income, research from Prudential shows. Wealth gained from property sales can be a substantial source of income for retirees. These findings indicate that nearly 2.5 million people would stand to make around £62,000 each by downsizing or […]
Retirement Savers Ripped Off By Hidden Pension Fees
July 24, 2013
Regulators are investigating how to ensure retirement savers are not ripped off by high pension charges. The Financial Conduct Authority is looking at the fees charged to savers by advisers and pension providers. The FCA believes many savers do not understand they are paying the charges, what they are for or how they impact on […]
