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As the watchdog considers formal compensation arrangements for savers sold inappropriate deals, Katie Morley looks at how much they could be owed in redress
This week, in the latest development in our Justice for Annuity Victims campaign, we can reveal the approximate compensation a saver such as Mr McCord might be paid if his case went to court or to the Financial Ombudsman Service (FOS). But if the City watchdog forces insurers and other pension firms to implement a widespread review, as Telegraph Money has learned it is now considering, such compensation could be paid without recourse to the courts. Those in line for cash could number 600,000, based on an average 400,000 annuities sold each year for the past six.....Read more here
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