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Article: Lords moves to resolve conflict over accounts.
- Article from:
- Financial Advisor
- Article date:
- June 7, 2007
CopyrightCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Pensions Bill amendment could see accounts disregarded for calculations
pensions
The House of Lords is pushing for an amendment to be made to the Pensions Bill, which could quash the means-testing debate in relation to personal accounts.
The proposed change to the Pensions Bill, put forward in the House of Lords, would mean that any benefits taken from pensions, including personal accounts, will be disregarded for the purpose of calculating entitlement to housing benefit, council tax benefit and pension credit where the person is 60 years old or over.
Only those saving in a personal account who accumulate more than 1 per cent ...