Saltr to keep its promises to consumers

The Savings and Long-Term Risk (Saltr) initiative is to be launched on 17 October, writes Mohamed Ali Bernat. The scheme, which has been led by the ABI and leading providers, is based around three consumer promises covering clarity and comparability of information, product appropriateness and customer service. To reach accreditation status life offices cannot have a bid/offer spread on their funds or initial charges. Charges will not have to be put into one overall figure but life offices will be required to classify different charges in a clear and simple manner to be known as "carr...