The Financial Conduct Authority’s (FCA) annuity mis-selling probe could result in huge redress payments to pensioners and earn the government a lot of political capital, but it is long overdue.
Some say the programme of redress for payment protection insurance mis-selling has given the economy a bigger boost than quantitative easing because it put money directly into people’s pockets (£20.5 billion to be exact).
An annuity mis-selling probe could do the same for millions of pensioners….Read more at City Wire.