The Big Question

Philip Brown is head of retirement products at Partnership Partnership would encourage all the major parties to support the industry and FSA in initiatives to increase take up of the OMO. In particular, we would ask the Government to sit down with us to develop more innovative approaches to serving the 80% of people who retire with funds below £30,000 (ABI figures Q3 2009) as these individuals are defaulting into poorer rate annuities from their pension provider rather than shopping around. The annuity market should provide good value solutions for all – not just the wealthiest. Pete...