Pension Reforms
Commenting on the additional pension reforms expected to be confirmed today by the Chancellor:
Carol Knight, operations director at TISA said: "Today’s announcement is more good news for savers who are to be offered much greater flexibility in how they use their pension to meet their personal financial needs in retirement. The government’s programme to restructure pensions is a huge step in the right direction, however there is still much to do in the UK to encourage people to save from an early age. We need to educate people about the benefits of saving for their financial wellbeing throughout their working lives and how this can build a pension pot to take full advantage of these reforms.
“TISA has initiated a Savings & Investments Policy project with a group of leading financial services companies, trade associations and consumer groups who have joined together for the first time to develop long-term policy proposals to give British people the opportunity to secure their own financial security. We will be presenting our initial recommendations later this year.”
Ends…
For further information, please contact:
Carol Knight, TISA operations director – Mobile: 07967 317003
Email: carol.knight@tisa.uk.com
Issued on behalf of TISA by Newgate Communications, contact Sara Lyons – Tel: 020 7680 6543
Email: TISA@newgatecomms.com
Notes for Editors
TISA
TISA is a not-for-profit membership association operating within the financial services industry. We represent the interests of over 145 member firms involved in the supply and distribution of savings and investment products and services.
TISA has a highly successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for consumers. Policy and regulation continues to be the major focus for our members with regard to corporate responsibility.
TISA and its members’ remit is evolving into a clearer focus on pro-active consultation in the regulatory world in order to influence policy and associated regulation before its creation, rather than reacting to issued policy directives. This will help to ensure a more considered policy creation from the authorities.