Pensions  

Advisers urged to plug knowledge gap in annuity market

"I don’t think any more should be done to help people understand annuities specifically because we don’t need people to become annuity experts but rather they should be encouraged to think and plan their retirement more broadly with a robust framework and encouraged to seek professional advice, rather than make an expensive mistake

"I wouldn’t say advisers are doing anything wrong, as realistically they can’t expect every client to understand the full details of annuities. I’m confident that IFAs are discussing the option of purchasing an annuity with clients at annual reviews if this is a potential solution as part of retirement planning."

rosie.quigley@ft.com