Pension Term Assurance (PTA)

SA96 · February 19

Hi,

Does anyone have much experience with these plans? I wasn't working in the industry in 2006.

Can contributions result in Fixed Protection being lost? This refers to contributions a few years ago, so before the changes made by the Government.

les_cameron · February 20

It depends - see here - https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm093510

SA96 · February 20

@les_cameron said:
It depends - see here - https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm093510

Thanks, I have spent a bit of time reading the manual and it appears that "protected policies" are the ones that cause the issue, as they would be entitled to tax relief and would count as contributions.

les_cameron · February 21

I don't believe tax relief is the test.

The main test is were they started prior to April 2006 and have remained unchanged. And if so it's OK.

SA96 · February 21

@les_cameron said:
I don't believe tax relief is the test.

The main test is were they started prior to April 2006 and have remained unchanged. And if so it's OK.

Thanks again, your help is appreciated.

Pension Term Assurance (PTA)

Comments