Overstepping the mark

Some take delight in turning such changes into sales opportunities, often benefiting wealthy customers, going way beyond what the Government intended and leading to an inevitable clampdown. There have been numerous examples of this around pensions simplification and, for example, the government would argue - rightly or wrongly - that the outlawing of alternatively secured pensions (ASP) is the result of over-enthusiastic promotion of ‘opportunities’. I’d definitely exempt pensions term assurance (PTA) from this accusation, because advisers would have been negligent if they had not consid...