FCA launches follow-up work on annuity mis-selling investigation

The Financial Conduct Authority (FCA) is investigating thousands of annuities sold since 2008 to see if they were unsuitable for savers.

The regulator will carry out a "forensic" analysis of a large sample of sales from all of Britain's major insurers. The work forms part of a previous retirement income market study, which finished last December. The review is only looking at non-advised sales by providers, the FCA said.  It is believed more than 600,000 pensioners could have been sold annuity contracts that failed to account for their health in the six-year period under review. They may now be due compensation. Common medical conditions such as diabetes and high blood pressure could have boosted their payouts...