Financial advisers have reacted angrily to the government's decision to review the rules around the sale of standalone life cover with tax relief, otherwise known as pensions terms assurance (PTA.
The updated list of firms who have withdrawn from taking PTA business now include Bright Grey, Bupa, Friends Provident, Legal & General, Norwich Union, Royal Liver, Scottish Widows and Standard Life. Several comments have been made by intermediaries to IFAonline's editorial team suggesting the Treasury's "confusion" over the tax status and use of PTA could unintentionally damage the protection market, when there had been increased take-up of protection by those people who need it most. Have Your Say: Kevin Minter of In Partnership says: Do you not find it a slightly bizarre attitude t...
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