When taking pension benefits you are not required to purchase an annuity and take your pension income from the insurance company you hold your pension fund with. With an Open Market Option you can transfer your pension fund to another insurance company, allowing you to shop around to get the best deal possible. This could mean that you are able to find a better annuity rate and higher income in retirement. Annuity rates can differ a lot between insurance companies. Annuity Arrow is a specialist annuity advisor that does the shopping around and searching of the annuity market for you.