The compulsory use of an annuity broker at retirement could be written into the latest version of the Pensions Bill after Labour tabled an amendment to the legislation.
The party has put forward the measure - which would see the use of annuity brokers as standard for auto-enrolment schemes - ahead of the Bill's third reading in the House of Commons tomorrow. It said it would ensure all pension schemes members get help finding the best retirement income. Shadow pensions minister Gregg McClymont (pictured) wants to see all pension savers referred to an independent annuity brokerage service by their scheme, or alternatively for schemes to offer a service itself. At present more than half of all annuity sales come from a pension investor buying an ann...
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