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
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date