Treasury ponders PTA pension link

In a paper issued on Thursday, the Treasury appears to confirm it will not ban PTA outright and will allow it to be used by people who have a pension provision, as long as it is evidenced through self-assessment tax returns. Concerns had been raised the Treasury would require PTA to be formally linked to pensions and evidenced through a centralised industry database, which providers warned would involve considerable expense. The paper also suggests the Treasury will cap the maximum sum assured at 30%, or £0.5m, which Andy Milburn, IFA market manager at Royal Liver, says would have no im...