Pru criticsed over with-profit annuity inclusion in customer info packs

The insurance giant lists its ‘Income Choice' option alongside other annuity quotes, which the company says "don't offer as good value as they did in the past", writes the Financial Times. But the paper quotes financial advisers who say the information may be misleading - though retirees may be enticed by a possible higher starting income, payouts can fall under a with-profits option. Better Retirement Group director Billy Burrows said: "A higher starting income can look more appealing when a quote is compared against a conventional annuity. "If customers are choosing Income Choice...