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U.K. Insurance Overhaul Doesn't Make for a Happy Retirement
The Wall Street Journal; subscription may be required Link to more items from this source
Dec. 11, 2014
"The U.K. government this year scrapped the compulsory purchase of an annuity at retirement after several years of low interest rates had turned an unpopular product into a downright unattractive one. Pity those who had bought an annuity shortly ahead of that decision in March. But now, the consumer financial watchdog has given them scope to get out of those deals, or eke a bit more from their provider. A review of selling practices in the past five years has found that insurers didn't do enough to help customers exploit what little choice they had in buying an annuity."

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