سیستم عامل های تجارت الکترونیکی و توزیع هزینه موثر مقرری بازنشستگی گزینه بازار آزاد(OMO)

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).

An annuity is an insurance contract that allows a lump sum to be exchanged for an income payable for the rest of the life of an individual. In broad terms its purpose is to ensure that an individual cannot outlive the funds they have accumulated for their retirement. Under UK legislation individuals that participate in defined contribution occupational pension schemes or in personal pension schemes are obligated to purchase an annuity on retirement with the proceeds of their pension schemes. The annuity purchase is normally undertaken at retirement but must take place by the age of 75 at the latest. The ageing profile of UK society means that the demand for annuities is expected to grow substantially for the foreseeable future.

In the UK, every individual with a defined contribution occupational pension scheme or a personal pension is obliged to purchase a pension annuity. The effects of an ageing society coupled with a shift from defined benefit to defined contribution occupational pension schemes will lead to a sharp increase in the number of OMO annuity purchases. Additionally, changes to the regulatory structure of advice will add further momentum to the separation between manufacturing and distributing firms—that has already become apparent in the UK financial sector—with a corresponding need for increased interactivity between market participants. Against this backdrop, the various business interfaces currently used by the industry to provide the linkages that facilitate information flows between manufacturers and distributors seem increasingly outdated. The functionalities of existing electronic industry portals are restricted to comparing and searching for different annuity products on the basis of historic rates and little product information. As a result, OMO annuity purchases are advice and administrative-intensive processes, which many non-specialist advisors are reluctant to engage in.