Annuities: Compare the market?

Customers are keenly aware poor transparency is a problem in airline fees, insurance deals, phone tariffs and energy bills. Annuities are no different. Enabling greater transparency has been a goal in the industry for some time. The Association of British Insurers (ABI) recently strengthened its commitment by announcing a consultation. The ABI has said "providers must submit valid annuity rates, for a set of notional customers on a given day in a regular survey for publication." The details include: • A survey of ABI members every two months asking what rates would have been on a par...