Financial regulator the FCA is to conduct a major probe into Britain's annuity market, amid claims the "disorderly" state of the sector is ripping pensions off.
- Annuities are a one-off purchase that people make when they retire, which converts their pension savings pot into a fixed annual income for the rest of their lives.
- An array of different annuity types exist, including standard ones that most people tend to get and enhanced annuities, where people in ill health, can get higher payments.
More top news
British actress Emma Watson called for more feminists in society and called upon men to promote gender equality in a speech at the weekend.
Twitter falls out of favour and Instagram makes ground in the 2014 CoolBrands UK survey.
At a reception tonight at the Labour Party conference, our correspondent Emily Morgan believes she saw a glimpse of formidable Team Miliband