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Scottish Life recommends all inclusive Single Defined Contribution Scheme

Scottish Life says the DSS Inland Revenue joint paper on the taxation regime for stakeholder pensions has broadened its consumer appeal.


But the life office wants to Government to extend any new regime to encompass AVCs, Free-Standing AVCs and Retirement Annuity Contracts.


Under the DSS proposals a single tax regime will only apply to certain defined contribution schemes.


Scottish Life believes individual pension plans should be compatible with any other pensions held, whether from state or from employers.


The company says if this can be achieved, pension advice will be simpler, distribution costs will reduce and pension plans will be more stable and durable.

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