Annuities

Some 80% of retirees who stick with their pension provider when they buy an annuity could get a better deal elsewhere, pointing to a huge failure in the open market option, the Financial Conduct Authority (FCA) has found.

Fidelity Worldwide Investment has bought retirement solutions business Annuity Direct and its holding company Retirement Angles.

Sound financial planning does not stop at retirement. We may stop working but our pensions now have to work harder and for longer.

A healthy increase in enhanced annuity sales has been heralded as a sure sign of progress by the industry. Latest figures show Q2 sales were up 30% on last year and accounted for 17% of all annuities written