Where there's a will

At last the FSA now seems to be getting to grips with the annuity market which has to be good news for customers. In spite of the fact that the open market option (OMO) has been available for decades the way in which this is processed has changed little over the years. The FSA has recently undertaken an audit of 'wake up packs' sent by 22 providers and has been quoted as describing them as 'misleading, jargon filled and opaque'. The fact that the FSA found that some 40% of wake-up packs sent to those approaching retirement did not meet regulatory requirements has to be a concern for provi...