The mandatory code of conduct on retirement choices for all Association of British Insurers (ABI) members, set to be enforced from 1 March, must go further to better help consumers, annuity campaigners have said.
The ABI said the code, launched at an event in London this morning, had been put in place to better help the 400,000 consumers who reach retirement age this year get the best deal on their retirement income. Part of the policy will see the body publish all its members' rates online to give consumers more insight into the market. However, other players in the annuity space called for it to go further. Campaign group Pension Income Choice Association (PICA) said the code must be supported by further developments in promoting good retirement incomes for investors. Chairman Tom McPhail...
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