As pressure mounts on annuity providers to make the open market option clearer, Andrew Tully, pensions technical director at MGM Advantage, demonstrates the value of advisers...
The ABI’s new retirement choices code of conduct, introduced on 1 March, continues the work to increase the number of people who shop around as they reach retirement. Despite this move in the right direction, the Financial Services Authority (FSA) – now the Financial Conduct Authority (FCA) – felt compelled to launch a thematic review of the annuity market, as well as including a significant section on increasing transparency in the annuity market in a recent discussion paper. It has long been a requirement for all providers to tell those approaching retirement about the option to sho...
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