Annuities

Australia is considering whether to force people to convert all or part of their superannuation benefits into retirement products to help manage longevity.

Unlocking defined contribution (DC) member options will force schemes to outsource their post-retirement processes, industry figures say.

Annuity comparison sites should include details of the types of guarantees available and identify providers that operate a restricted panel, after the Financial Conduct Authority (FCA) updated its guidance.