Annuities: Greater Annuity rate transparency on the horizon

People retiring in 2013 should be able to get a clearer picture of the rate offered by each Annuity provider, if new plans outlined yesterday come into force. At present would-be retirees can only complete a full pension Annuity comparison by engaging the services of an Independent Financial Adviser (IFA). This is because some Annuity providers do not accept business directly from the public and others do not appear on online pension Annuity calculators. However, the Association of British Insurers (ABI) yesterday announced plans to force all Annuity providers to disclose the Annuity rates they offer. Under the proposals the ...