Pension providers are not trusted to offer impartial guidance on retirement options, according to a new Which? survey.
The changing landscape in pensions created by the Government's overhaul of the system will form part of a wider probe into the annuities market.
Increasing use of income drawdown following the Budget annuity changes could see 20% of pensioners exhausting their funds before they die, pension experts have warned.
Another major pensions company has predicted its annuity sales will plummet following the Budget.
A study into the bulk annuity market has shown there were fewer big hitters in the UK last year but researchers predict more firms will enter.
A retirement planning expert has said it is premature to believe that the overhaul in the pensions system means the the death of annuities.
The UK annuities market could decline by up to 75% after the recently announced changes to compulsory annuity purchase come into effect, according to PwC analysis supported by a new consumer survey.
A senior FCA figure has warned against predictions of doom about the annuities market following the radical pension reforms announced in the Budget.
Sales of annuities fell by 16% last year, newly released figures from the Association of British Insurers have shown.
The Government has a role to play in fixing the failing annuities market, the Financial Services Consumer Panel says, following a damning FCA report published today.
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