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Nearly three quarters of those looking for an annuity lack the confidence to arrange one without the help of an adviser, research shows, as a major review of the sector moves into its next phase.
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.
The FCA's review of annuities fails to go far enough and will be too slow to help thousands of retirees, a pensions director says.
The FCA is to launch a competition market study after concluding that the annuities market is failing consumers.
Over a third of British consumers (37%) say they'll never save or invest for their retirement – compared to just 22 percent of people globally, according to a new study by Nielsen.
A study looking at why people may be retiring later has suggested nearly three quarters of the workforce fear their pension pot will not be large enough.
More than one in ten retirees spend less than an hour arranging their retirement plan, a survey has shown.
A financial shock is awaiting many women when they pack up work, with annual incomes £8,000 beneath what they believe will give them a comfortable life, a study indicates.
Spouses are keeping secret debts worth an average of £7,800 from their other halves and potentially risking their comfort in retirement, a study shows.
Hargreaves Lansdown has detailed a five point action plan to reform the retirement planning sector following the widespread criticism of the annuity market by the Financial Services Consumer Panel this week.
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