In response to the Chancellor's announcement regarding the tax treatment of SIPPs.
In response to the Chancellor's announcement regarding the tax treatment of SIPPs:
Iain Oliver, head of pensions at Norwich Union, commented: "In the pre-budget speech, the government has recognised the concerns raised by responsible parts of the industry and taken measures to kerb investment into residential property through pension products.
"This action reduces the risk to customers; however, the total withdrawal of this option could have been avoided had appropriate levels of advisory regulation been in place for A-day."
If you would like to talk in more details about the issues raised by the pre-budget speech please call 07800 695 275.
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Media contacts:
Media Relations Team
Norwich Union Life
Tel: 01904 452617
Mob: 07800 695 275
Notes to editors:
Norwich Union
Norwich Union is one of the UK's biggest insurers. It is a leading provider of life, pensions and investment products and one of the largest Financial Adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
Norwich Union has strategic alliances with building societies and other leading UK brand names including CIS and The Royal Bank of Scotland Group. Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.