The pension transfer review still continues, which was shortly followed by the alleged misselling AVC/FSAVC review and the endowment review.
Many financial advisers have since been heard asking the question “What next?” Well, it seems there is unlikely to be a shortage of future material for the financial journalists and regulators. The latest scheme from a major bank and IFA
offering a loan to mop up unused relief before carry-forward ceases would appear
to be just another example.
One journalist wrote in the Financial Times that the downside with the scheme is the exposure to interest
rate risk. Now where did I hear that before? That's it, I remember – home income plans in the 1980s before the Ship schemes, I think. It cost one building society dearly, I recall. Something about unexpected increases in interest rates.