FSA annuity review: is the timing and focus right?

clock

Fiona Murphy looks at the implications of an FSA review on shopping around for the annuity market

The Financial Services Authority (FSA) recently confirmed it will investigate how annuities are sold and the detriment consumers are facing. The thematic review will be in two stages over the course of 2013, and led by the newly-created Financial Conduct Authority from April. The FSA revealed it will examine how consumers lose out on income by not shopping around and which firms are responsible for disengagement. Research has found many consumers lose out on thousands of pounds of annuity income by sticking with their pension provider's offer and not searching for the most suitable...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Income

Legal & General goes digital for annuity applications

Legal & General goes digital for annuity applications

Applications could take 14 fewer days to process

Jenna Brown
clock 01 April 2025 • 1 min read
M&G launches fixed term annuity as it re-enters market

M&G launches fixed term annuity as it re-enters market

Fixed term of between five and 15 years on £10,000 minimum lump sum

Jenna Brown
clock 12 March 2025 • 2 min read
L&G reports record annuity sales of £2.1bn for 2024

L&G reports record annuity sales of £2.1bn for 2024

New business sales of annuities up 48%

Linus Uhlig & Jenna Brown
clock 12 March 2025 • 3 min read