S2P next mis-selling crisis - papers 5 October

Insurers are sending the letters recommending customers rethink their opted out status because of fears MPs could bash them in the same way they did over endowments, the paper writes. Both the Tories and LibDems cite the letters as further evidence the existing pension system is too complex for ordinary consumers to understand, The Times says. Demographic changes and reduced investment returns have hammered previous assumptions on which contracting out decisions were based, while insurers have not been helped by the Government Actuary’s Department, which is criticised for not making c...