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Article: Money Letters: Making sense of the open market option.(Your Money)
- Article from:
- The News Letter (Belfast, Northern Ireland)
- Article date:
- June 15, 2002
CopyrightCOPYRIGHT 2002 Johnston Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ross Bennett
QUERY: I am self-employed and have had a personal pension for 25 years, which has grown considerably over that time. The insurance company has written to me offering a lump sum and a pension at my retirement. There is also a paragraph which talks about an 'open market option'. I have read this several times and I am still not sure if I understand it.
Could you please explain?
RB, Coleraine
Shop around - you may get more money in retirement
At retirement, most people convert their pension savings into an ...
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