LONDON Jan 31 Britain's Financial Services
Authority will announce a review of the multibillion-pound
pensions annuity market due to concerns that some individuals
are losing out on thousands of pounds of income a year upon
retirement, the Independent reported on Thursday.
The regulator will consider whether insurers are doing
enough to encourage pension savers to shop around and move their
savings in order to get the best annuity when a pension fund is
converted into income for life, the paper said.
The review will take up to 12 months and will look into
whether annuities are fairly priced and marketed, reported the