Pension firms must give annuity buyers the top rival quote on the market to help them avoid shoddy deals under new rules starting today.
Savers will have to be told the difference between a provider’s own offer and the best available one – in pounds and pence annual income – from a comparison tool covering every firm in the market.
Annuities allow savers to exchange pension pots for a guaranteed income in retirement, but poor value deals and evidence of mis-selling uncovered by regulators have given them a bad name. Annuity deals: Rates are low after years of rock bottom interest […]
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