FAILURE to promote the open market option is costing pensioners around £1.4bn a year and leaving advisers and insurers exposed to mis-selling claims, Rockingham Retirement warns.
The retirement income firm said - although the Financial Services Authority requires pension providers to inform their customers of the OMO - the option needed to be actively promoted to ensure pen...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
