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Broker talkback

Should providers be forced to reveal their annuity rates?

Yes 88%
No 12%

Yes “I think they probably should. It would allow consumers to compare the rates to see whether they are getting a good or a bad deal. In the interests of treating customers fairly, I think they should.”

Tristan Freer, Robert Ward & Co

Yes “In view of the fact that under the FSA’s treating customers fairly regime I would have thought that this is an obvious requirement.”

Stephen Hughes, Tower Investment & Financial Services

Yes “It is in the client’s best interest for that information to be freely available so that they can compare the market.”

Alan Mellor, Phillip Bates and Co Financial Services Ltd

Yes “It is a detriment to clients if they don’t How can they make an informed decision if they do not know all the rates?”

Graham Waterworth, Clarion plc

Yes “They are published for some annuity providers in the national papers, so why not make it fairer for comparisons across the board?”

Jim Whearity, Salisbury House Independent

No “I really don’t care. If they were published on the providers’ websites I might look at them but if they are to be published in the newspapers or the FSA website, I really don’t care for that.”

John Cotton, sole trader

Yes “Some of the rates are appalling and full publication would help highlight the issue.”

Martin Wood, Spectrum Financial Services

Yes “Why shouldn’t they? This information should be in the public domain.”

Melanie Jacobs, HFS IFA

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