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FSA to investigate annuity pricing

FSA to investigate annuity pricing

The Financial Services Authority (FSA) is to investigate annuity pricing with a potentially precedent-setting probe into the £11 billion market, according to the Financial Times.

The FT reported that later today the regulator will reveal details of how it plans to examine annuity pricing data to determine how much pensioners are losing out by if they do not shop around.

The investigation could become a test case for the competition powers of the Financial Conduct Authority (FCA) which takes over from the FSA in April, the paper said.

Providers who appear at the bottom of best buy tables, yet have high levels of business, will come under the regulator’s scrutiny, the FT reported.

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