New rules could mean better pensions for thousands

Thousands of people could receive larger pensions as a result of the way Annuities are marketed to members of company pensions. At present around one in three people buy their Annuity from the same people who have managed their pension and do not shop around for the best Annuity rate. This can lead to lower incomes in retirement as it is not always the case that the existing pension provider will offer the best Annuity rate. Furthermore an Annuity can never be changed, choosing the wrong Annuity provider can therefore be an extremely costly mistake. However a new initiative from the Association ...