22 March 2007
Individuals will no longer receive tax relief on pension
contributions used to pay premiums under new personal term
assurance policies. The change affects occupational scheme policies
applied for from 29 March 2007 or taken out from 1 August 2007 and
other pension scheme policies applied for from 14 December 2006 or
taken out from 1 August 2007.
Pre-existing arrangements will cease to receive relief if the
policy is varied by increasing the term or sum assured, unless
under an option within the policy.
