Petition Can the government provide an alternative to enforced annuities?

Despite the governments drive to ensure all workers have a good pension, the fact remains that workers are still at the mercy of insurance companies when they retire, and are forced to take an annuity. These annuities are terrible value for money and barely pay back the amount the insurance company takes off the worker. They also force the retiree to lock in at what could be terrible low rates as in the present economic climate. Admittedly the option of draw down exists but this is only viable or indeed possible for individuals with large funds. This inconsistency must be addressed now in order to put some sense back into the pension industry and also show the workers that the government is on the workers side and not the insurance industry.