We become used to insurance companies ripping us off when it comes to pensions.
It's a bit harder to take when it's your own employer or, more precisely, the trustees running their pension fund.
It now transpires that many schemes have been failing to provide their members with clear and sensible advice on annuity purchases.
Instead, those coming up to retirement had been buried in gobbledygook and industry jargon.
The result is far too many have bought the wrong annuity. In some cases, there will be nothing for their spouse when they die.
Others have been left with a far smaller income in retirement than they might otherwise have received.
The pensions regulator is now taking action against some of those it investigated.
It is to the benefit of pension scheme members everywhere that the regulator is in this instance on the ball.
Read all of Tony's Money Mail column
• Pity the parents of indebted students
• Work pensions cheat us with jargon
• Fundsmith should reveal its share picks
Read more: Pension
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