Pension wake-up packs 'arrive years too late'

The group says the letters, recommended by the ABI, should be replaced by a "much clearer" series of communications between providers and customers starting at an earlier point in the pre-retirement process. It is calling for the establishment of an independent communications "czar" to police guidance offered by ceding providers. Failure to comply should result in the business being automatically put through the Open Market Option (OMO), it recommends. According to ABI research, seven in ten pensioners who read the pack said it gave them a better understanding of their options at reti...