The dinosaurs from Jurassic Life are out of their pens again trying to justify CPAs. Annuities have their place but it is morally and fiscally wrong that, by law, everyone is forced to put their second-biggest asset in the hands of the actuarial profession 10 years before they are statistically dead.
If pension contributions ever become compulsory CPAs must be banned, although if they were banned there would be no need to make contributions compulsory anyway. Give the people access to their savings.
Hodgson & Faraday,