Govt urged to press ahead with OMO update

Dave Harris, managing director at Living Time says the Treasury promised annual updates on how well the Open Market Option (OMO) is operating. “This may not be top priority given the turbulence in the financial markets, but treating retirees fairly is an issue that is far too important to leave on the backburner.” Harris says more than 400,000 people will need to buy an income stream with their pension money over the next 12 months. He believes they should be given every opportunity to make informed and educated decisions to find the right solution to fit their individual circumstance...