TPR must do more on alternative annuities

Head of business development Vince Smith-Hughes said headway had been made to encourage members to shop around at retirement through the Association of British Insurers’ compulsory code of conduct. But, he added more needed to be done to encourage members to look at alternative products as well as different rates. Smith-Hughes pointed to investment-linked annuities and impaired life annuities as ways to enhance income in retirement, rather than settling for the best rate on a conventional annuity. His comments come after pensions minister Steve Webb argued that impaired life annuit...