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

1.1

Format of bar graph

1.1.1

When a firm is creating the two bar graphs as set out in Part 1, the firm must ensure:

(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;

(2)

The y-axis must:

(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;

(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

(c)

not include any numbers or details which are not required by the rules in COBS 19.9 or the provisions of this annex.

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

cobs_19_ann_03_01_20180301

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

cobs_19_ann_03_02_20180301

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

cobs_19_ann_03_03_20180301