The following article about the Association of British Insurers new code of conduct is an interesting read http://www.bbc.co.uk/news/business-21586086 . This think it would be more effective for each insurer to state on a single A4 page letter in large print that the pension company cannot guarantee to offer the best deal for an annuity purchase and that most independent financial advisors will complete a search of the market for free. A second paragraph should state that an independent financial advisor would be able to take the time to check if the client was eligible for an impaired life annuity which would lead to a further advantage on the deal that can be found for the pension saver. Sometimes you need to keep it simple! If there are people who cannot be bothered to put in the effort to shop around it is their responsibility to manage their time.
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