The ABI's annuity provider code of conduct was introduced to improve consumer outcomes at the point of retirement. Laura Miller asks, six months on from launch, is it actually working?
Can a code of conduct drawn up by an industry body, which, by its very nature, represents its members, ever really go far enough to properly benefit the end consumer? The Association of British Insurers' (ABI) annuity code of conduct certainly presents itself that way. But in its first six months of operation, has it really worked? The code requires members to provide clear and consistent communications to ensure customers are able to make informed and proactive decisions about retirement income products, and are able to shop around for the most appropriate product. ABI members mus...
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