In December the ABI launched a consultation into improving the shopping around process for retirement income. Helen Morrissey asks whether the proposed processes go far enough to solve this issue.
Improving the shopping around process for a retirement income has been one of the major issues facing the at-retirement market. In December the Association of British Insurers (ABI) launched an industry consultation into how this can achieved. The consultation follows on from the ABI's announcement in September that a code of conduct would be put in place. This includes members removing annuity application forms from wake up packs as a means of encouraging people to go on to the open market to find an appropriate product. The consultation, which runs until Feb 2012, will get industry opi...
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