ABI members to publish their annuity rates

The Association Of British Insurers has ordered its members to publicly publish how much they pay out in pensions in exchange for customers' nest eggs, the Daily Mail reports. It is the first time insurance giants have had to come clean about the annuities - the annual income for life in exchange for a pension pot - they have been offering customers. Until now, it has been virtually impossible to find out officially which firms were routinely offering the worst annuity rates. It means millions of customers have been pushed into deals without their knowledge, and without knowing they...