15 February 2014 12:00 AM
Anyone taking out an annuity right now is likely to end up in a worse position than they should. That's because they may not know that they could get a better deal. That, in a nutshell, is why the annuity market is broken. If four out of five people doesn't get the best deal, as a study by the Financial Conduct Authority discovered this week, then there's clearly something terribly wrong.