PIMA Supports Labour’s Pledge on Unclaimed Assets
The PEP and ISA Managers Association (PIMA) welcomes Labour’s call for further efforts by industry and Government to identify the owners of unclaimed assets. PIMA has consistently supported the reconciliation of orphan assets at the heart of the Labour Party’s manifesto pledge.
PIMA is also eager to progress the dialogue between Government and industry about the funds in those accounts that are unable to be reconciled with owners. Labour calls on industry to ‘channel them back into the community’ (to use Labour’s phrase on page 23). Several PIMA members already have policies of donating these monies to charities if the rightful owner cannot be found.
PIMA Director-General, Tony Vine-Lott said,
[i]‘PIMA members have already undertaken much work in this area. Should Labour prevail in the upcoming General Election, we would welcome the opportunity to work alongside the Government to advance this issue and reach a swift, amicable resolution for providers and the Government.’[/i]
For more information and comment:
Tony Vine-Lott, PIMA
07790 006108
Jacob Coy, Cicero Consulting
020 7665 9535
079 0636 1970