The same applies to advice based on taxation aspects. No-one knows what our tax system will look like in 20-30 years' time in relation to the structure of individual incomes. The pension sector crisis in the wake of the plummeting share prices in 2000-2002 obviously gave many companies rather a shock.
Falling share prices combined with lower interest rates and rising life expectancy was a potent cocktail. One of the challenges to the sector has therefore been to avoid a similar situation in the future. Many companies have opted for solutions based on individual products, i.e. the policyholders themselves bear most of the risks. This is a remarkable development.