The government has been urged to set up an independent advisory body to help annuitants and promote the open market option.
Annuity payment service provider Xafinity Paymaster made the recommendation in its response to the government's consultation on pension reform. Xafinity has recommended the government creates "an independent advisory body for annuitants along the lines of the Citizens Advice Bureau to provide specific advice to individuals at retirement". The company suggests the government introduces the compulsory provision of the three best comparable annuity quotes to retirees by their pension provider. Xafinity also calls on the government to give retirees the right to two half days leave duri...
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