ABI bids to tackle annuity 'roll-over' with new compulsory code

The Association of British Insurers (ABI) initiative will mean ABI members must remove the annuity application form in communications they send to their customers. It said this will stop consumers from automatically rolling over their pension savings to an annuity with their current provider. The ABI added the new code will ensure customers receive all the information they need to shop around in one easily accessible place. Clive Balchin, director at Lancashire-based James Trickett & Son, said the initiative was a "step in the right direction". "This is excellent news. Shopping ...