Annuity panel for Personal Accounts 'could restrict choice'

Following the launch of a consultation on retirement options for members, doubts have arisen over how best to deliver annuities to these consumers after 2012. The Personal Accounts Delivery Authority (PADA) has proposed appointing annuity panel for Personal Accounts members, providing a range of products through an online quote and apply portal. Research among the Personal Accounts target group found most were unaware of annuities, and many were misinformed about methods of accessing pension accumulations at retirement. As a result, PADA wishes to make it as simple as possible for mem...