Surely it would be simpler to draw a line in the sand and state that anything written from, say, 1 January 2014 is subject to the new rules. As it happens, some of the old contracts are better than the new ones. Many companies have simply used the new RDR rules to ratchet up costs, which the client pays.
The FCA just loves to interfere at every level of financial services and most of what they do is not that effective. Once RDR has been analysed, I think that they will see that costs for clients have effectively risen not fallen. Thank goodness I am now retiring.
AG Financial Planning