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Insurers bidding to save PTA

The ABI is lobbying the Government to change its mind on withdrawing tax relief from pension term assurance.

The ABI says it will put industry concerns to the Treasury when it meets with it before Christmas.

ABI spokesman Jonathan French says: “We will be arguing that the changes will be a bad thing for consumers and will push up the price of life insurance in general. We will be saying that we want them to change their minds on this.”

Providers are joining in the call for Chancellor Gordon Brown not to scrap tax relief on PTA, as announced in the pre-Budget report, with Royal Liver, Bright Grey, Liverpool Victoria and Aegon having already pledged to lobby HM Revenue & Customs on the issue.

IFAs are writing to local MPs and the Treasury voicing concerns over the disadvantages of abolishing standalone PTA.

Aegon Scottish Equitable says it will continue to lobby the Government to act in what it says are the best interests of customers and the industry.

Liverpool Victoria director of intermediary sales Stuart Tragheim says: “We will be lobbying for the Government to accept that stand-alone PTA is a good thing and should not necessarily be linked to a pension.”

PTA U-turn, p3 & 10


Hogarth returns with IFA support venture

Former Bankhall chief Paul Hogarth is returning to the industry with an IFA support services company called Paradigm Partners next February.The company, which Hogarth says will not directly compete with firms such as Bankhall, SimplyBiz and threesixty, will focus on investment and mortgage intermediaries.Former Portfolio Member Services operations manager Leigh Cobb will work with Hogarth […]

LibDems claim Personal Accounts are ‘fatally flawed’

The LibDems say Personal Accounts are “fatally flawed” as long as mass means-testing remains part of the benefits system.LibDem Shadow Work and Pensions Secretary David Laws says that for many people the scheme will be inappropriate and unfair because of the continuation of means testing in its cut down form.He says some people on low […]

Brown sugar

Gordon Brown last week gave what many observers believe to be his last major public performance as Chancellor as he delivered what will probably be his final pre-Budget statement.

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Pension Wise — now taking calls…

Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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