IMA calls for government innovation on incentivising saving

www.moneynews.co.uk > Banking > IMA calls for government innovation on incentivising saving

IMA calls for government innovation on incentivising saving

Fri 28th May 2010

It is important for the government to carry out a comprehensive review of how saving money can be incentivised for the general public, according to the Investment Management Association.

Richard Saunders, chief executive of the industry body, suggested the UK must keep the momentum going in encouraging the country as a location for funds, while at the same time clarifying the system for consumers.

He said: "The Government should take the opportunity to have a fundamental and holistic look at the pensions and savings regime as a whole, and to ask how it can be simplified."

In his view, savings issues are "firmly" on the agenda for the new government and the IMA would welcome the opportunity to take an active role in the debate.

Mr Saunders recently commented on the state proposals for annuity reform, suggesting it will be good for people to assume greater responsibility for their savings strategies.

Click here for more banking news

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'