Bad deals will shrink your pension pot

Last week, the Financial Conduct Authority (FCA), the regulator, released a report that echoed what we’ve been saying for some time: if you don’t want to be ripped off, you need to make sure you shop around carefully if you plan to buy an annuity (a lifetime income stream that you buy with your pension pot).

The FCA says that eight out of ten people who simply buy an annuity from their pension provider, and four out of ten overall, miss out on better deals.

The money involved is not trivial by any means: the FCA calculates that the average [...]

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