Stand by for next big miss-selling scandal too - clients taking all their money from pensions and then living 30 years in poverty.
I think most of the educated and knowing (and I stress educated) middle classes are way too smart & informed, to fall down this pit. This is long overdue empowerment of people who have worked hard and been savvy. Without doubt there will be a growing number of pension-less poor people facing and old age of poverty and a commensurate ever-growing burden on the diminishing youth, but today's announcements will make no noticeable difference to that particular problem.
Excellent posts btw AL R...thanks for all the info you give us here on pprune.