Partnership targets small pension pots with online tool

According to the ABI, 80% of annuity funds are under £30,000 (Q3 2009) with the vast majority of people not exercising their open market option to get the best annuity rate. However, they could be missing out on extra income with the difference between the best and worst annuity rates as high as 30%, particularly for those with health conditions. The new online service aims to help advisers transact this business in a profitable way by streamlining the process. For a typical adviser the true cost of advising on a £30,000 fund is estimated at £750. Given typical commission rates ...