Karen Barrett, Chief Executive at unbiased.co.uk comments on the launch of the Association of British Insurers’ annuity window

Karen Barrett, Chief Executive at unbiased.co.uk comments on the launch of the Association of British Insurers’ Annuity Window:

“There has been much focus recently on retirement options and the need for consumers to shop around for the best annuity deal and the introduction of the ABI’s ‘Annuity Window’ initiative shines a light on this issue again. We do agree that there is a clear benefit in people taking time to review their options when it comes to their annuity purchase but we also recognise that many people simply won’t be able to confidently choose the best option for them. A general ‘shopping around’ message simply doesn’t go far enough – the industry needs to focus on clearly demonstrating the value whole of market advice can add to the process of securing an annuity income for the future – enabling consumers to understand all the options available and achieve the highest income possible. We are calling on the industry to work together to empower consumers to seek whole of market advice at retirement and to do this by clearly highlighting the need for and benefits of whole of market financial advice.

“The demand for financial advice has never been stronger and we have seen a 9% uplift in consumer searches for advice in the first four months of 2013 compared to the same period last year. We also know that retirement planning has always been the biggest trigger for people seeking advice, so it is clearly an area where people appreciate the need for professional advice. We look forward to working with the rest of the industry to help make consumers aware of where they can go to find an annuity adviser so that they make the right choices for their annuity options. Find a whole of market annuity adviser at unbiased.co.uk.”

Notes to editors:

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