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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Sat, 26 Feb 2005 08:36:27 +0000 /

Author of the message: sufaud

Title of the message:
Times: Private pensions and real estate investment

Text of the message:
The Times
February 26, 2005
Home comforts with a catch
THE simplification of private pensions being introduced by Gordon Brown on
April 6, 2006, has won general approval from the industry. But it has also
brought warnings that the new-found freedoms for would-be pensioners carry
their own dangers.
Mr Brown's big idea is that the current multiplicity of private schemes,
ranging from personal pensions to company-provided options, will be replaced
by a simple annual allowance and lifetime limits on individual
contributions. Within those, you will have greater licence as to what you
use to create your pension.
The aspect of the changes that seems to have caught the imagination of
savers and headline writers alike is the possibility of converting houses
into pension plans, something which has been banned up to now. Some have
even been hypnotised by the possibility that their own home could become
part of this tax-privileged vehicle.



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