PTA pension link would 'cost a fortune'

Milburn suggests the Treasury may reach a compromise on PTA by only allowing the product to be sold to people who already have a pension – a move which he warns would involve considerable expense. He states: “Because it is not best advice to recommend the same provider for a pension and for PTA, all providers will have to create a database so they can check if someone has a pension in place. This would cost a fortune.” To cut down costs, Milburn says advisers or providers could ask consumers if they have a pension scheme and then check every one in a 100 cases to ensure they are telli...