Fidelity calls for ABI to ban unsolicited sales mailouts

The ABI yesterday published proposals for a voluntary code of conduct for insurers to encourage 'shopping around' for annuities at retirement. But Richard Parkin, head of proposition at Fidelity's defined contribution (DC) and workplace savings business, said the organisation's proposals do not go far enough. "We are disappointed some providers would not agree to remove unsolicited own rate illustrations," said Parkin. The draft code introduced some restrictions on illustrations of pension products insurers send unsolicited to consumers. The ABI suggested requiring insurers to m...