Treasury

A lot of people are still clinging to the hope a form of pension term assurance will continue after the Budget, but there is a strong possibility the product will be scrapped and it may be wise to expect the worst.

A national service providing generic advice will act as a ‘signpost' into the regulated advice market instead of providing competition, claims Ed Balls MP.

Considerable doubts linger over whether the Treasury will allow pension term assurance with tax relief to exist after the Budget next week, but advisers and providers are nonetheless hopeful some form of the product will remain.

A merger between the UK's newest regulatory bodies for pensions - the Pensions Regulator and the Pension Protection Fund - has been floated by Paul Thornton, the man appointed to conduct an independent review of pension regulation, says the Financial...

Reliance Mutual Insurance Society is acquiring Hearts of Oak Friendly Society following proposals in the December Pre-Budget report to change tax law and protect friendly society policyholders on a transfer of engagements.

The Treasury is seeking consultation from the protection industry on a proposal to allow pension term assurance for consumers who self-certify they have a pension provision.

A move by the Treasury to link pensions term assurance to pensions would create considerable costs for providers and advisers, says Andy Milburn, IFA market manager at Royal Liver.

There are rumours in the protection industry the Treasury may reach a middle ground on pension term assurance and allow a watered-down version of the product to continue.

The government has announced a service that will be aimed at providing consumers, including those on low incomes, with "quick, easy and simple access" to good quality advice on financial products.

Rule changes to the Isa regime will come into effect by April 2008, one year sooner than previously outlined by the government, the Treasury has announced.