Insurers to help retirees

BRITAIN’S insurers have pledged to help pension savers find the best deal for their retirement, following the launch of a review by regulators.

The Association of British Insurers (ABI), whose 350 members run some of Britain’s biggest pension schemes, said yestersay that its members had all signed up to the new “ABI Code of Conduct on Retirement Choices”.

The code requires insurers to spell out options for buying an annuity up to two years before someone retires.

Members will contact people due to retire.