IMA comments on pensions calculator legislation issue

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IMA comments on pensions calculator legislation issue

The Investment Management Association (IMA) has urged legislators to consider the effect of new regulations on pension provision before rubber stamping any new rules.

Jonathan Lipkin, head of research at the organisation, claimed it is not possible to create a "one-size-fits-all" policy with regards to long-term savings strategies across the continent.

He made his remarks in response to a green paper on pensions published by the European Commission (EC).

Mr Lipkin accepted that cross-border legislation in Europe would benefit from economies of scale and facilitate portability, but he urged the EC to be careful not to create obstacles to the delivery of pensions on a national level.

"A single European market for pensions is difficult to achieve, but has significant potential benefits for savers," he said.

Department for Work and Pensions representative Steve Webb responded to the green paper by saying many of the proposals are already covered in the UK's current pension system.

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