Product category:
Pensions and retirement
News Release from: Scottish Widows | Subject: Pensions
Edited by the Insidemoneytalk Editorial
Team on 14 March 2008
Ian Naismith, Head of Pensions Market
Development, Scottish Widows
comments on the changes to trivial commutation:
"We welcome the Government's recognition that many people have very small pension pots within larger overall provision These pots cause particular problems because they result in very small pensions, and it is not possible to exercise the open market option for them because it is not commercially viable for providers to accept such small amounts
We look forward to seeing the Government's full proposals, and urge the Government to extend the facility to commute occupational pensions below the £2,000 limit to personal pensions as well.a" For further information please contact: Andy Smith/Katie Hayward.
Lansons Communications.
Tel: 020 7294 3675/31.
Email: scottishwidows@lansons.com.
Susan McDonald.
Scottish Widows Press Office.
Tel.
0131 655 7003.
Email: susan.mcdonald@scottishwidows.co.uk.
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