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The insurance giant told Financial Adviser it was meeting with the FSA next week in a bid to ensure consumers researching annuities using the City watchdog's website were able to receive real-time annuity quotes, up-to-date rates as well as be able to make a provision for postcode annuities.

Tim Gosden, head of annuity product development for Legal & General, said while it was a good thing the FSA provided an independent source for consumers to compare annuity rates it was "slightly worrying" the information provided on the regulator's consumer-facing website moneymadeclear.com was not always up to date.

However, Mr Gosden said after this issue was raised the FSA had recognised the shortcomings of its data and had asked to meet with Legal & General to discuss the issue.

When Financial Adviser contacted the FSA the regulator said it was confident that its tables were up to date and that it updated its website information "very frequently, almost daily."

Mr Gosden said that given choosing an annuity was such a crucial decision it was vital the general public had a source that provided accurate information.

He said: "A lot of consumers do their own research prior to buying annuities and a lot of them use the research tables. The FSA tables provide indicative rates. They are not real-time but they also do not take into account postcode rates, which is a bit of a problem."

With more providers offering postcode annuities, Mr Gosden said the FSA needed to make provision for this by representing this data on its website for consumers.

He said: "When everyone was offering standard rates it was a level playing field, but some of the larger providers do not publish their rates anymore because the FSA do not incorporate postcode pricing into the website."

David Whitely, consumer communications press officer for the FSA, said: "We are looking to add postcode annuities on to the tables but we are looking at the best way of doing that.

"We do not have a timescale for when they are to be incorporated but it is definitely part of our planning at the moment.

"We are always in discussions with providers on the tables to make sure the material is up to date and the best ways to improve."

Currently the FSA website advises customers to contact Norwich Union and Prudential directly to get a quote, however Mr Gosden said the only way to ensure customers had the most up-to-date information was to contact each individual provider.

He said: "Looking to the future, ultimately what we want is a real-time website whereby the customer gets a real-time quote."

Norwich Union said it had been in regular dialogue with the FSA regarding its annuity tables.

Darren Dicks, head of annuities propositions for Norwich Union, said: "We do feel the FSA website is not as helpful as it could be for customers and we have had ongoing discussions with the FSA ever since the idea of postcode annuities were in development."

Juliette Emblem, public relations manager for Prudential, said: "We would be keen to do anything we could to help the FSA ensure real-time quotes are available."

It is not the first time Legal & General has challenged the FSA. In 2005 the regulator was also forced to disclose its 'behind closed door' dealings with IFAs and providers suspected of mortgage endowment mis-selling by Legal & General at the London Law Courts.

The move came after Legal & General claimed the FSA should have offered it a private warning rather than publicly censuring it of alleged widespread mortgage endowment mis-selling and fining it £1.1m.