Despite consumers feeling more confidence about available annuity options the vast majority are still not getting the best product and rate in retirement, Association of British Insurers (ABI) research has found.
Analysis of annuity attitudes following the launch of the organisation's code of conduct found there was "plenty of room for improvement". The code, mandatory for all ABI members, came into force in March. It compels providers to start communications about annuities earlier, prompt savers to gather quotes from other providers and highlight alternatives such as enhanced annuities. In consumer research published today, the ABI said understanding of retirement decisions is high, but a significant proportion of savers still do not read the information sent to them, do not feel able compar...
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