MP warns annuity mis-selling could be next financial scandal

Gloucester MP Richard Graham said consumers fail to fully understand the annuities products available, and that many were not clear about the fees they would have to pay, the Daily Mail reports. Speaking during a Westminster Hall debate, he said: "Since this is potentially the second biggest financial purchase of our lives, I believe the state of things is worrying." Graham said he had recently chaired a seminar on annuities during which he asked the Association of British Insurers if there was a danger of any of its members being sued for mis-selling. "There was a long pause befor...