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Electronic trading platforms and the cost-effective distribution of open market option (OMO) pension annuities

Author

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  • Hagendorff, Jens
  • Hudson, Robert
  • Keasey, Kevin

Abstract

Over the next years, the ageing profile of the UK population will lead to a sharp increase in the volumes of pension annuity sales. Every individual that participates in a defined contribution occupational or a personal pension scheme is obliged to convert the capital accumulated into a regular post-retirement income by purchasing an annuity before the age of 75. To ensure a more competitive market the UK Financial Services Authority has ruled that from 1 September 2002 pensioners must be informed that they have the right to purchase their annuities from suppliers other than their current pension provider—this is termed exercising an open market option (OMO).

Suggested Citation

  • Hagendorff, Jens & Hudson, Robert & Keasey, Kevin, 2006. "Electronic trading platforms and the cost-effective distribution of open market option (OMO) pension annuities," International Journal of Information Management, Elsevier, vol. 26(3), pages 187-195.
    • Handle: RePEc:eee:ininma:v:26:y:2006:i:3:p:187-195
    DOI: 10.1016/j.ijinfomgt.2006.01.001
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    Cited by:

    1. Ranerup, Agneta & Norén, Lars, 2015. "How are citizens’ public service choices supported in quasi-markets?," International Journal of Information Management, Elsevier, vol. 35(5), pages 527-537.

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