£130m annuity income lost as push to shop around fails

Pensions Policy Institute says £7,000 per £100,000 pension pot could have been gained

Hope William-Smith
clock • 2 min read
£130m annuity income lost as push to shop around fails

Industry prompts introduced in 2018 to encourage pension savers to shop around for the best annuity provider have fallen flat, the Pensions Policy Institute (PPI) says.

Findings from the institute published today (30 September) show there was £130m in "lost" annuity income during 2019 related to savers' lack of research. This was based on PPI calculations - sup...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

More on Industry

CACEIS launches industry advocacy group

CACEIS launches industry advocacy group

‘everyone matters’ forum for financial services announced at PLSA Investment conference

Jasmine Urquhart
clock 06 June 2023 • 1 min read
Buzz: Should pension trade bodies consolidate?

Buzz: Should pension trade bodies consolidate?

Consolidation of trade bodies, notifiable events regime and the gender pensions gap

Professional Pensions
clock 06 June 2023 • 1 min read
TPO launches investigation into cyber incident

TPO launches investigation into cyber incident

Ombudsman confirms it is co-operating with relevant authorities on cyber incident

Martin Richmond
clock 06 June 2023 • 1 min read
Trustpilot