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 [...]

MoneyWeek magazine

Latest issue:

Magazine cover
Hard cash

What's next for gold and silver?

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

What you should really do with your money (2014 Edition)

How to buy and sell penny shares

A beginner's guide to investing in gold

How to invest in British fracking