William Burrows: Will the new annuity comparator benefit your clients

From 1 March 2018, every firm issuing guaranteed annuity quotes must comply with new rules set out in the Financial Conduct Authority's policy statement PS17/12. In simple terms, firms will need to ask customers for their consent to use personal information in order to produce an annuity comparator. The annuity comparator is simply a new type of annuity illustration that informs the customer if there is another company in the market offering a higher rate. If, for example, Company A offers an annuity paying £2,500 a year but Company B offers £2,600, the customer must be told there is ano...