Tax Incentivised Savings Association takes helm of UK savings policy
From today, the Pep & ISA Managers Association is renamed as the Tax Incentivised Savings Association (TISA).
The Tax Incentivised Savings Association will be leading the debate on behalf of the retail financial services industry on the UK government’s savings policy. Drawing on PIMA’s rich heritage and extensive experience working across the industry and with Government on behalf its members and consumers, TISA will continue to be the voice of savings in the UK.
TISA will continue its work on PEPs, ISAs and Child Trust Funds (CTFs), representing the best interests of the 20 million savers who have invested nearly £300 bn. As part of this work, TISA will play a fundamental role in assisting HM Government and the industry with the ISA changes (including the phasing out of PEPs) in the period before the new ISA regime takes effect in Tax Year 2008-2009.
In addition, over time, TISA will extend its activities to provide input across the whole range of Government savings policy and issues. TISA’s objective is to work with government to create a range of savings and investment schemes which will be beneficial and attractive to the consumer throughout the whole of their lives.
Director General Tony Vine-Lott said,
‘PEPs and ISAs have worked extremely well for a very high percentage of adults across all sectors of UK society, and the CTF, as a universal savings scheme, will soon be doing the same for the young. TISA seeks to utilise what we have learnt from these schemes to continue to broaden and deepen savings throughout the whole UK community.’
For more information:
Tony Vine-Lott, Director-General, PIMA
07790 006108
Iain Anderson or Jacob Coy, Cicero Consulting
020 7665 9535
079 0039 2531