Pensions industry veteran John Moret takes a trip down memory lane

A 30-minute watch

In the first of a three-part interview John Moret shares his memories having worked in the SIPP market for 30 years, while simultaneously passing a 50-year career milestone.

He tells Sam Shaw about a “bizarre” ban by Lautro over a report on fee illustrations and how the taxman scuppered Provident Life’s flexible annuity launch at the 11th hour, paving the way for income drawdown providing the first “major breakthrough” for the SIPP market.

John remembers the “staggering” raid on pension tax relief by Gordon Brown in 1997, which had a “profound” effect on the DB pension market, “with just a wave of the ministerial pen”.