TISA reaction to Spending Review
TISA has responded to today’s Spending Review pronouncements on pensions.
Malcolm Small, TISA Director of Policy says:
“Although the announcements regarding pensions contain little that has not already been agreed as a direction of travel; I do welcome the current government’s perspectives on restricting tax relief for higher earners and on liberalising the retirement income regime. The increase in retirement age to 66 in 2020 reflects the reality of longer, healthier, lives. However, much depends on successful reform of the state retirement benefit regime, and it is good to see this now firmly on the political agenda, when consensus amongst the policy community has already been achieved. A decent, universal, basic state pension will give the clearest possible incentive to save for retirement. Without this, all other reforms, though well intentioned, will be tinkering at the edges.”
Ends……
For further information, please contact:Malcolm Small, Director of Policy, Mobile: 07989 500771 Email:malcolm.small@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of government sponsored savings and investment vehicles.