Labour vows to cap pension charges and force annuity broker use

The opposition also said it would force "high charging and inefficient" pension providers to improve or merge. The proposed cap measures are similar to the plans put forward by current pensions minister, Steve Webb, which were criticised for being rushed through the parliamentary process and put on hold earlier this month. Labour said its measures, which are aiming for a 0.5% maximum, would help savers facing a cost-of-living crisis protect the value of their pensions. Alongside the pension charge cap the party said it would make seeing an annuity broker at the point of retirement...