Annuity information criticized

You might expect better information about annuity rates – vital for decision-making when you have to convert your pension pot into an income – to be welcomed, but many newspapers criticised the new information made available by the Association of British Insurers on the annuity rates actually payable by its members.

Among their complaints were that insurance companies themselves aren’t making the comparison tables available, and that the tables don’t cover the most important issue: the type of annuity you buy. As usual, the experts agree that you really do need to consult a financial adviser before you make a decision.