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Responding to the report, Yvonne Braun, ABI’s Director of Long-Term Savings Policy, said: |
"Pension providers are committed to providing customers with clear and meaningful information to help them make the retirement choices that are right for them. The ABI has long recognised that the annuity market did not work well for some customers, which is why our members developed the Retirement Choices Code and annuity window service, that have raised awareness and encouraged customers to shop around for the right annuity deal. “With the incoming pension reforms set to revolutionise people’s retirement options, we share the FCA’s aim of ensuring that customers have confidence they are getting the best possible retirement income for their circumstances. We look forward to working with the FCA on the practical implementation of their remedies." |
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