A full list of people nearing retirement would be the Holy Grail for product providers offering the open market option (OMO), says Living Time.
The retirement income specialist says a names and addresses list would allow providers to post packs detailing all the annuity options available to retirees. Kim Lerche-Thomsen, chief executive officer of Living Time, says providers could use the same pack after agreeing on its contents and display the information on their websites. He says the FSA’s annuity information has become outdated since the rise of products such as variable annuities and the packs would fill the gaps. He says: “[The FSA] doesn’t clearly distinguish that there are three market places.” However, Rachel Vahey, hea...
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