{"id":1183,"date":"2015-03-03T09:26:36","date_gmt":"2015-03-03T09:26:36","guid":{"rendered":"http:\/\/www.newsfin.co.uk\/news\/?p=1183"},"modified":"2015-03-03T09:26:36","modified_gmt":"2015-03-03T09:26:36","slug":"open-market-option","status":"publish","type":"post","link":"https:\/\/www.absolutefinance.net\/wordpress\/?p=1183","title":{"rendered":"Open Market Option"},"content":{"rendered":"<p><strong> Shopping around to obtain a higher rate<\/strong><\/p>\n<p>Prior to the commencement of the pensions reform changes, historically purchasing an annuity has been the most common way of turning someone&#8217;s pension savings that they&#8217;ve built up over the years into an income that will last them the rest of their life.\u00a0<!--more--><\/p>\n<p>After deciding what level of income is required, an individual can shop around and compare rates. This is called using the &#8216;open market option&#8217;.\u00a0This means that someone does not have to take the pension offered to them by their provider; they can take their fund to another provider to obtain a higher rate.<\/p>\n<p>Shopping around could increase someone&#8217;s retirement income considerably and provide access to a wider range of products.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shopping around to obtain a higher rate Prior to the commencement of the pensions reform changes, historically purchasing an annuity has been the most common way of turning someone&#8217;s pension savings that they&#8217;ve built up over the years into an income that will last them the rest of their life.\u00a0<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[128,67],"tags":[],"_links":{"self":[{"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1183"}],"collection":[{"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1183"}],"version-history":[{"count":0,"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=\/wp\/v2\/posts\/1183\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.absolutefinance.net\/wordpress\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}