Reform should not undermine annuity sector-ABI

Speaking at the ABI's Savings & Protection Conference, Dr Yvonne Braun, assistant director for savings and retirement at the ABI, urged the Government not to "forget the majority of people still want to purchase an annuity as it provides the powerful benefit of providing an income for life". She highlighted recent progress in persuading people to shop around for their annuity with 67% of people now looking across the whole market before making a purchase. This is much higher than previous industry figures suggesting it is closer to a third. Braun noted the discrepancy was caused by pe...