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The Financial Services Consumer Panel has called for urgent change in the "non-advice" annuity market which it says "does not work well for the majority of consumers."
Many current pensions will fail to reach their target, leaving pensionholders at the mercy of the annuity markets and stranded with inadequate pensions, warns a new report.
The Financial Conduct Authority has said it may launch a probe into annuities following its 'market study' into the £1 trillion UK cash savings market announced today which will look at whether consumers are getting a good deal.
MGM Advantage, the retirement income specialist, has analysed the number of customers who shop around among financial advisers looking to compare annuity rates.
Pensions company London and Colonial has expanded its range with the launch of a new multi-platform Sipp and multi-platform open annuity.
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