UK watchdog says found no major issues with enhanced annuities

LONDON, Oct 14 (Reuters) - Britain's financial watchdog saidon Friday it found no widespread failures by insurers to givecustomers in poorer health enough information about the pensionsthey were buying.

The Financial Conduct Authority conducted a "thematicreview" or sector-wide study of how firms were selling so-calledenhanced annuities.

Annuities are a form of pension that pays out until death,but people in poor health are typically eligible for higherpayouts as they are more likely to die earlier.

"The FCA found... no evidence of an industry-wide orsystemic failure to provide customers with sufficientinformation about enhanced annuities through non-advised sales,"the watchdog said in a statement.

"At a small number of firms the FCA did have concerns whensignificant communications took place orally - normally over thephone - which was likely to have caused some customers topurchase a standard annuity when they may have been eligible foran enhanced product."

(Reporting by Huw Jones)