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Annuities And Long-Term Care Benefits

Volume 622: debated on Tuesday 27 February 2001

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asked Her Majesty's Government:Why pension funds are not allowed to offer long-term care benefits in lieu of part of their annuity payments to policyholders. [HL838]

Successive governments have not thought it appropriate to include long-term care benefits in a tax regime which aims to encourage people to save for an income in retirement. The Royal Commission under the chairmanship of Professor Sir Stuart Sutherland also came to this conclusion.