Ian Naismith: Loopholes and stepping over the line

Some of the schemes that are devised may give their originators a reputation for cleverness and a smug feeling of having ‘beaten the system', but in my experience they do more long-term harm than good. Take a couple of current examples: There is a much-talked-about move back to trust-based pensions (occupational schemes) to get around the 2012 changes. The reasoning is that occupational pensions do not fall under FSA regulation, so can be used to avoid unwelcome aspects of RDR, including commission restrictions that may apply to GPPs. Occupational schemes also have a facility for refu...