Industry welcomes ABI code for annuity providers

The reforms will introduce a climate of transparency and education to ensure customers shop around for the most appropriate annuity instead of being shoe-horned to their pension provider's offering. Providers are now required to: prompt consumers to shop around - including gathering competitive quotations from other providers. begin customer communications earlier - up to five years before their normal retirement date. ensure customers understand the retirement journey and signpost them to information and advice highlight the role of alternatives such as enhanced annuities, ev...