ABI head of savings, retirement and social care Yvonne Braun said in a blog post that the annuity website has had 27,500 visits in the last week.

Responding to criticism that the Annuity Window does not include live rates or rates from all providers but is restricted to those from ABI members, Braun said: “It could never be a ‘silver bullet’ that makes all consumers take optimal decisions at retirement.”

She added that the window is “about promoting understanding of different types of products and providers, and motivating people to shop around for the best deal”.

Braun also stressed the ABI aims to push consumers towards advice rather than away from it.

The window provides a snapshot of rates at a particular time, gathered via a survey of ABI members.

Braun noted that the ABI varied three factors within the first survey – single/joint life, health and postcode – and said the association will use other combinations of factors in future surveys.

She said the ABI has already acted on suggestions for improvement of the tool, by adding detail to the assumptions made in the data, linking on the site to information about other retirement options such as deferral, commutation and drawdown, and explaining terminology through pop-up boxes.

However, Braun said there was some feedback which the ABI has yet to act on.

Some commentators pointed out that the annuity site did not explain the difference between fees and commission for pension advice, and did not include commission or adviser charges in the published rates, meaning that where the tables showed external and internal annuity providers, they did not compare like with like.

“This is a necessary trade-off,” Braun wrote.

She added: “This is one step in building consumer engagement, understanding and trust. Our director general, Otto Thoresen, has called for a more fundamental review of wider solutions to the retirement challenge.

“The at-retirement market continues to evolve and we are keen to engage with initiatives to improve customer understanding and shopping around.”