Annuity mis-selling has occurred when a person is not properly advised about their entitlement to an enhanced annuity.
The Financial Conduct Authority has recently found that 80% of pensioners who purchased an annuity could have received a better pension income if they had been properly advised properly by the company they got their annuity from.
When you retired you may have used the proceeds of you Company or Private Pension to purchase an annuity which is intended to give an income for life. If you took advice, your advisor would access the highest possible rate for your needs.
If you have suffered from certain medical conditions prior to your retirement, if you are or were a Smoker you could have achieved enhanced rates. You could have benefited in a 20% – 100% increase in your pension income. Annuity mis-selling has occurred when a person is not properly advised about their entitlement to an enhanced annuity.
4 Barn Meadow, Winnington, Northwich, Cheshire, CW8 4XD