Annuity sale mis-selling probe could net pensioners compensation

The Financial Conduct Authority (FCA) says around 90,000 pensioners may be in line for compensation over mis-selling concerns. It said that while its review of non-advised annuities had not uncovered poor practices in written communication, it was worried about phone contact with customers at a small number of firms. Annuities can be purchased by those of pension age in order to guarantee a fixed income per year, often for the rest of their lives.