PENSIONS GREEN PAPER RESPONSE
PIMA, the PEP and ISA Managers’ Association welcomed the Pensions Green Paper and called for the Government to continue to simplify pension rules to encourage long-term savings.
Tony Vine Lott, Director-General of PIMA, said:
‘We are delighted the Government has recognised the simplicity and flexibility of the current ISA structure as part of the Inland Revenue‘s review of the taxation of pensions. This must be the way forward to encourage more people to save for retirement. We are looking forward to contributing towards this wide ranging review’
‘As part of this important consultation, we hope the future status of SIPPS – self invested personal pensions; and IPAs – individual pension accounts, will also be resolved and we look forward to working to ensure the Sandler Review’s objectives are met for simple transparent products.’