Thousands of pensioners set for compensation over mis-sold retirement annuity

Thousands of pensioners set for compensation over mis-sold retirement annuity
 

Around 90,000 people could be reimbursed following an investigation by the Financial Conduct Authority (FCA).
It found that consumers were guided to buying a standard annuity when they could have been eligible for products with a better rate.
The watchdog said its main concerns involved deals made over the telephone, with call handlers being heavily reliant on scripts.
It said that customers were also not always made aware that they could get a better income by shopping around.
The problems, which involve a “small” number of firms, could mean payouts of between £120 to £240 per year per... read more

 
14 October 2016 in Business, Views: 47
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