When Prime Minister Thatcher’s 1986 Financial Services Act allowed workers the freedom to opt out of Defined Benefit pension schemes in favour of personal pensions, the subsequent mis-selling free-for-all drained UK financial firms of £11.8bn in compulsory compensation payoffs. It was a whole lot of money back then. Fast forward to 2020 and the UK financial regulator is rolling out the gibbet again following studies which flowed from the 2015 deregulation of UK pension options at retirement, a deregulation that mirrors Minister Charlie McCreevy’s here in 1999. The Financial Conduct Authority (FCA) estimates that 69% of the 235,000 people who…

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