View more on these topics

Friends goes live with ABI’s Options annuity drive

Friends Provident is the latest provider to go live with the Association of British Insurers’ Options initiative to speed up annuity transfers.

Other providers already signed up to the Origo-administered system include Aegon, Just Retirement, Legal & General, LV=, Partnership, Prudential, Canada Life and Standard Life.

Advisers recently wrote an open letter urging those not onboard to go live with the system as soon as possible. These providers include Axa, MetLife, MGM Advantage, Norwich Union, Pearl Group, Scottish Widows, Skandia and Zurich.

Options has already sped up transfers significantly since going live in December, according to advisers.

Head of corporate pensions marketing Martin Palmer says: “OMOs have grown significantly in popularity as consumers look to get the best deal available to them when it comes to purchasing an annuity. Friends Provident is committed to this industry led initiative to provide better services to customers.”


What’s the story?

Treating customers fairly is top of firms’ radars and we can all just about quote the six consumer outcomes but it appears that principle-led regulation will be no more.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm