The Association of British Insurers (ABI) has launched a consultation on the transparency of annuity rates to ensure consumers approaching retirement get the best deal.
The consultation follows the publication of the ABI's code of conduct on retirement choices, which requires members to provide clear and consistent communications to their customers in the run-up to their retirement. As part of the code, the ABI will be publishing a range of annuity rates available to help customers understand how the products of individual providers fit into the wider annuity market. This will include both the rates of providers competing for customers on the open market and those of providers offering annuities only to their existing pension customers. It said th...
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