Ensuring all pension savers have "a conversation" with their IFA or a provider about their retirement options is among a number of promises the Association of British Insurers (ABI) will present to the Financial Conduct Authority (FCA) on behalf of the pensions industry this week, ABI chief executive Otto Thoresen has said.
By the summer of 2015, the industry will also proactively offer all customers a comparison of annuity quotes so they can see the range of options available to them, Thoresen wrote in an article in the Sunday Telegraph. Additionally, it will make sure customers can provide information about their health and lifestyle, so they can make the most of the potential advantages of enhanced annuities. Thoresen said the measures showed the pensions industry needed to do more following three recommendations the ABI made last year under the Retirement Choices Code. Among those recommendations ...
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