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ABI publishes annuity purchase guidance
THE Association of British Insurers has published guidance for member companies on improving the customer claims process for annuity purchases.
The trade body’s guidelines state that customers should be given a specified retirement date should start – which the ABI says is a more stringent requirement than was previously in place.
ABI spokesman Jon French said: "There was a wide consultation on the new guidance with ABI member companies and all relevant members have been informed of the changes.
He added: "The industry is taking concrete steps to significantly improve transfer times and all other aspects of the customer experience of arranging an annuity."
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