The Annuity Bureau is urging the Association of British Insurers (ABI) to publish its figures to ensure transparency.
The retirement pension specialist blamed the ABI's apparent refusal to make its figures known for people failing to shop around for retirement pensions.
According to the Annuity Bureau's director Peter Quinton, the ABI data which showed how many people move from one life office to another when reaching retirement age is no longer openly available.
He said he found it odd that the ABI seems bent on covering up how successful the message of shopping around is, and asked whether Britons are actually listening to it.
"Hiding the figures is not very useful," Mr Quinton commented. He also asked how the progress of whether annuitants are shopping around could be monitored if these figures remain unavailable.
He urged: "The industry still needs to do everything possible to encourage consumers to seek out the most competitive annuity."
According to the Annuity Bureau, people could boost their retirement pension by as much as 20 per cent a year if they shop around for the best deal.
ABI's so-called retirement pension secrecy slammed
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ABI's so-called retirement pension secrecy slammed
Wed, 20 Jul 2005
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