“I seem to be having tremendous difficulty with my lifestyle.” This is the complaint of hapless everyman Arthur Dent from The Hitchhiker’s Guide to the Galaxy novels by Douglas Adams, at being dragged through outer space in his dressing gown.

Dent found himself completely unprepared for sudden and radical change - a situation with which the pensions sector can sympathise. Since Chancellor George Osborne ripped up the tax rulebook in March, the industry has, indeed, been having difficulty with its lifestyle.