PIMA CONDEMNS IPPR REPORT AS A FURTHER BARRIER TOWARDS SAVING
PIMA, the PEP and ISA Managers Association, believes a report from the Institute for Public Policy Research calling for the abolition of equity-based ISAs will do nothing to encourage people to save.
This one-sided analysis ignores the fact that over 14 million accounts have been opened since 1999 and ISA savings has now reached the £100bn mark.
Peter Shipp, director of policy and member services at PIMA, said:
‘Rather than putting people off savings right now, the IPPR and other bodies should be encouraging people to save. The ISA has been a spectacular savings success with over £100bn contributed since 1999 – a figure which far outstrips PEPs over a similar period.’