Raising the standards

The open market option (OMO) has been around for as long as I can remember in the personal pensions era.For almost as long financial advisers and their clients have been tearing their hair out over its highly inefficient operation. The tragedy is that retirees requiring certainty around their in-retirement income stream have been opting to take their income from their pension provider due to lack of efficiency in OMO processing. The result is that many of them have lost out on a higher income from a more competitive annuity provider, or an enhanced rate for illness or lifestyle problems. ...