Insurers must display rival pension annuities
Insurance companies selling pension annuities will have to tell their customers if they can get a cheaper deal elsewhere and how to get it.
Each year tens of thousands of savers use the money built up in their pension pots to buy an annuity, or income for life.
Four out of five annuity buyers could get a better deal, the Financial Conduct Authority (FCA) said.
So it will force providers to show quote comparisons from September 2017.
Guide to deals The financial watchdog said that shopping around could gain annuity buyers up to £171 a year.
There is widespread reluctance among people... read more
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