Any member contribution used to pay premiums to a personal term-assurance policy (termed by the legislation a ‘non-group life policy’; see below) is not tax relievable, unless the policy is ‘protected’, (FA 2004, s. 188(3)(aa); FA 2007, Sch. 18, paras. 4 and 6).
A policy is a ‘protected policy’ if:
•it was issued before 21 March 2007 (in the case of an occupational scheme), or 6 December 2006 (in other cases);
•the pension scheme concerned became a registered scheme before the appropriate date above, and
•the rights under the policy became held for the purposes of the pension scheme before the appropriate date above