COBS 19 Annex 3 1Format for annuity information
This annex belongs to COBS 19.9.7R(3) and COBS 19.9.15R(3)(c).
1 |
Format of bar graph in the Part 1 template |
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1.1 |
Format of bar graph |
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1.1.1 |
When a firm is creating the two bar graphs as set out in Part 1, the firm must ensure: |
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(1) |
the annual income offered by the pension annuity in the guaranteed quote is presented on the left hand side of the two bar graphs; |
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(2) |
The y-axis must: |
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(a) |
start with a monetary value which is £20 below the annual income of the pension annuity being offered by the firm in the guaranteed quote; |
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(b) |
use a scale which clearly and fairly depicts the difference in annual income that a retail client will obtain if a market-leading pension annuity quote is accepted; and |
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(c) |
not include any numbers or details which are not required by the rules in COBS 19.9 or the provisions of this annex. |
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Part 1: Template for cases where the guaranteed quote does not provide highest annual income
Where the guaranteed quote does not provide the highest annual income
Part 2: Template for cases where the guaranteed quote, the guaranteed annuity rate, a guaranteed minimum pension or section 9(2B) rights offer the highest annual income
Where a guaranteed quote, a guaranteed annuity rate, a guaranteed minimum pension or section 9(2B) rights offers the highest annual income
Part 3: Template for cases where the a retail client does not consent to a market-leading quote being generated
Where appropriate consent has not been given to allow a firm to generate a market-leading quote
