Pension Term Insurance
Pension Term Assurance Quote
PENSION TERM ASSURANCE CHANGES
Tax relief will on pension tern insurance no longer be available for all contributions made on or after 1 August 2007 under occupational pension schemes in respect of PTA policies, unless the insurer received the policy application before 29 March 2007 and the policy was taken out before 1 August 2007. As far as any other pension scheme is concerned, tax relief will no longer be available for contributions made on or after 6 April 2007 in respect of PTA policies, unless the insurer received the policy application before 14 December 2006 and the policy was taken out before 6 April 2007.
Tax relief on premiums for policies that continue to qualify will be stopped if the policy is varied to increase the sum assured or extend the term, unless the variation is as a result of the exercise of an option within the policy.
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