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Insurance giant Aviva has broken ranks with its fellow pension providers, arguing that retirees should be forced to shop around for an annuity.
The typical person could boost their retirement income by between 10pc and 20pc by getting the best annuity deal.
The company is stepping up pressure on the Government to make the “open market option” – where customers must find the best value provider for their lifetime income themselves rather than taking a default option from their pension provider – the default.
http://onlywire.com/r/50663501

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