article_snippet: Companies will have to advertise what rival firms are offering and how much more retirees could earn if rival firms switched to a different provider.
article_snippet: The Financial Conduct Authority (FCA) said that using a ‘simple quote comparison’ would expose bad-value contracts.
article_snippet: Under new rules to be introduced in the UK next year, firms will have to advertise what deals rival firms are offering and how much more retirees could earn if firms switched to a different provider (file picture, posed)
article_snippet: In a victory for Money Mail, the radical shake-up will force firms to ‘make it clear to consumers how consumers quote compares relative to other providers’.
article_snippet: ‘prompt customers to consider the benefits of shopping around and switching’.
article_snippet: If providing details of what rivals are offering provokes someone to look at alternatives, that has got to be positive.
article_snippet: The Financial Conduct Authority (FCA) said that using a ‘simple quote comparison’ would expose bad-value contracts and the new regulations would ‘prompt customers to consider the benefits of shopping around' Other measures unveiled by the FCA includes cutting back on jargon-filled documents – in some cases as long as 22 pages – an issue Money Mail has highlighted.
highlights_snippet: Firms forced to  ‘make it clear to consumers how Firms quote compares’
  
highlights_snippet: FCA said FCA would help 'customers consider benefits of shopping around’ 