OMO

The Association of British Insurers' (ABI) annuity code of conduct is not radical enough, Tom McPhail, head of pensions research at Hargreaves Lansdown said.

In May, Heath Lambert launched www.heathlambertannuity.com, an online portal aimed at helping people to receive the best annuity quote possible. Director Stuart Grennan tells Helen Morrissey about the service

Reform of the Open Market Option would boost government coffers by £1.7bn over 20 years and should form part of all political manifestos, a lobby group says.

Average pension transfer times have increased, according to the ABI's latest Options performance data.

Provider ‘wake-up' letters to pension clients nearing retirement arrive years too late, are too complex and should be scrapped, Just Retirement says.

Employers and pension providers need to do more to raise awareness of the open market option (OMO), according to The Pensions Regulator (TPR).

A list of the worst offenders for delayed annuity transfer has been released by the Annuities Clearing House (ACH), with Windsor Life and Phoenix topping the bill.

The Origo Options initiative, backed by a number of providers, has cut annuity transfer times at retirement by around two thirds.

Friends Provident has joined the ABI's Options scheme, which aims to speed up the open market option (OMO) transfer process.

The "battle" to make the public aware of the Open Market Option (OMO) and its potential benefits is being lost, annuity advice specialists say.