Mandatory advice on pension freedom cases with guaranteed annuity rates worth more than £30,000 should be scrapped and replaced with a ‘customer control' mechanism delivered through the Pension Wise service, the Association of British Insurers (ABI) has said.
The ABI said it had written to Chancellor George Osborne and Financial Conduct Authority (FCA) chief executive Martin Wheatley to push its proposal which it said would tackle pensions freedom "impl...
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