Labour Lord scolds 'dysfunctional' annuity market

Lord Bradley made the comments in a speech to the House of Lords on Tuesday. He was speaking in favour of an amendment which would have seen the use of an annuity broker at retirement become compulsory. He said being forced to use an annuity broker would be an effective way to make sure people got the most from their pension pots, especially people who wanted to remain with their original provider. Speaking in a debate on Tuesday, he said: "The annuity market is not working as it should. There is evidence of non-adherence to the Association of British Insurers code of conduct. "...