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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Partnership | LSE:PA. | London | Ordinary Share | GB00B9QN7S21 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 125.75 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMPA.
RNS Number : 2186T
Partnership Assurance Group PLC
01 October 2014
1 October 2014
Partnership Assurance Group plc
(the "Company")
Pensions Tax Announcement Update
The Company notes the latest proposals regarding tax changes to pensions and annuities made by HM Treasury. In particular, the Company welcomes the fact that, under the proposed changes, lump sum death benefits on annuities will be treated in the same way as a drawdown contract.
Commenting, Steve Groves, CEO of Partnership, said: "We welcome the clarification around the proposals and particularly that the tax treatment of annuities will be equivalent to drawdown, which creates a level playing field for customers and providers. We also welcome the assessment by HM Treasury that "The Government is clear that annuities will remain the right choice for many at some point during their retirement, and believes that many people will still value the security of an annuity."
"As we have previously noted, the main beneficiaries of this change will be more affluent retirees but we anticipate little change for most of our potential customers given the average pot used to purchase one of our enhanced annuities is around GBP60,000. As a result, we do not expect a material impact to our business from the proposed changes. We continue to believe that annuities are the most appropriate product for many people."
Enquiries
Investors: Media: ----------------------------------- ---------------------------------------------------- Katherine Jones Jim Boyd Citigate Dewe Director of Investor Director of Corporate Rogerson Relations Affairs Michael Berkeley, +44 (0) 207 444 +44 (0) 207 444 Grant Ringshaw 8040 8088 +44 (0) 207 katherine.jones@partnership.co.uk pressoffice@partnership.co.uk 638 9571 ----------------------------------- ------------------------------- -------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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