Brits 'should be able to save at ATMs'

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Brits 'should be able to save at ATMs'

Individuals across the UK would welcome an overhaul of the ATMs system to allow them not only to take money out, but to also pay money into their pensions, it has been revealed.

According to thinktank the Future Foundation, this is just one of a number of ideas that could revolutionise the way people save for their retirement in the UK, with other options including new facilities for individuals to manage their savings through the red button on their TV.

Martin Palmer, head of corporate pension marketing at Friends Life, said: "Although this solution would be complex to implement, there may be some lessons here for the industry that would allow us to develop solutions that give individuals more flexibility to change their pension contributions."

The news follows comments by Laith Khalaf, pensions expert at Hargreaves Lansdown, who recently told listeners to the FT Money Show podcast that the government is set to consider the future of high earners tax relief as part of a review of the sector this year.

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