PIMA OFFERS TWO NEW PRODUCTS FOR THE SANDLER SUITE
The PEP and ISA Manager’s Association has proposed a Lifetime or Retirement ISA, a wrapper that would have the tax benefits of a pension, should be included as part of the Sandler ‘suite’ of products.
In its’ response to the Treasury’s consultation on the Specification of Sandler suite products, PIMA also recommended;
A proposed revamping of the Individual Pension Account (IPA) – to enable it to be a safe haven wrapper that could be used to collect or consolidate a number of stakeholder pensions as referred to in the Pickering Report.
A link between the stakeholder ‘brand’ and the Child Trust Fund.
A full range of CAT marked ISAs should be part of the Sandler suite, as should stakeholder.
Tony Vine-Lott, Director General of PIMA said “In general we are pleased with the recommendations of the Sandler Report, although we believe the suite should be expanded to include our proposals. The Retirement ISA for example would have considerable appeal with consumers and providers and would fit well in the suite”