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Figures show big difference in pension fund payouts

28 August 2013 Last updated at 12:11 BST

If you thought that one pension scheme was pretty much as good as another, think again.

Figures from one of Britain's biggest investors show big discrepancies in what different funds pay out on retirement.

Financial expert Louise Claro told BBC Breakfast's Dominic Laurie that an annuity provided a guaranteed income unlike an investment - but came at a higher price.