LONDON Oct 14 Britain's financial watchdog said
on Friday it found no widespread failures by insurers to give
customers in poorer health enough information about the pensions
they were buying.
The Financial Conduct Authority conducted a "thematic
review" or sector-wide study of how firms were selling so-called
Annuities are a form of pension that pays out until death,
but people in poor health are typically eligible for higher
payouts as they are more likely to die earlier.
"The FCA found... no evidence of an industry-wide or
systemic failure to provide customers with sufficient
information about enhanced annuities through non-advised sales,"
the watchdog said in a statement.
"At a small number of firms the FCA did have concerns when
significant communications took place orally - normally over the
phone - which was likely to have caused some customers to
purchase a standard annuity when they may have been eligible for
an enhanced product."
(Reporting by Huw Jones)