Annuity providers will be required to inform their customers how much they could gain from shopping around and switching provider before they purchase an annuity, the Financial Conduct Authority (FCA) has said.
The regulator plans to ask providers to build an "annuity comparator" tool, in the form of an information prompt before an annuity is purchased. The prompt will have to show the difference between the...
The chairman isn’t answering his email
Reforms not enough
An economic cocktail
To encourage consumers to shop around
Will report to Pat Shea