Pension annuities scrapped

The annuities market was corrupt and proved impossible to regulate.  The pragmatic solution is to remove the requirement for annuities.  Sadly, this ducks effective reform of the UK personal finance sector in general.

It is astonishing that the companies in the market – you know, the ones who were ripping off consumers – are complaining about how their share prices have fallen and it was all so unexpected.  Did they think their corruption would be without consequence?