Aegon joins NU stance on PTA

The company says it has been reviewing its options for pipeline PTA business since the Treasury announced in the pre-Budget Report it may remove tax relief on PTA because they were being sold as standalone policies rather than as part of a pension proposition. As a result, Alun Beynon, head of individual protection at Aegon Scottish Equitable, says although the company will not take on any new PTA business, it has decided the “most appropriate course of action for our customers” is to continue processing pipeline policies as PTA. However, he says the policies will include an endorsement...