ABI demands OMO focus in provider 'wake-up' packs

The guidelines have been designed to ensure ‘wake-up’ packs, sent out to members as they near retirement, clearly state all the options available to customers and point out they could increase their retirement income by shopping around. The ABI says customers should receive a brief summary of the OMO and the different types of annuity available as well as other key options that should be considered. The ABI is one of a number of associations, firms and bodies that has expressed unease over the number of consumers apparently unaware of the OMO. In the most recent example, retirement incom...