UK regulator under fire over £12bn annuity deal


The UK’s Prudential Regulation Authority has come under fire for playing “fast and loose” with pensions over its willingness to nod through transfers of savings from long-established insurers to newer specialist rivals. A group of pensions experts and policyholders has written to Sam Woods, the watchdog’s chief executive, questioning its handling of a recent case involving Prudential, the UK insurance company.

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