The percentage of people exercising their open market annuity option has fallen every quarter since ...
The percentage of people exercising their open market annuity option has fallen every quarter since September 2002. This was the date at which the FSA made it compulsory for providers to publicise the open market option. According to ABI figures, the percentage of people moving provider was 31.2% in the second quarter of 2003. This represents a fall from 31.6% in the first quarter of the year, 34.2% in the fourth quarter of 2002 and 38.2% in the third, the last period before the FSA introduced its regulations. The ABI pointed out these figures are not fully representative of the numb...
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