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ABI comments on Steve Webbs speech on pension ISAs

Commenting on a speech by Steve Webb, Director of Policy at Royal London at the Association of Consulting Actuaries annual conference today, ABI Director for Long Term Savings, Yvonne Braun, said:

Yvonne Braun"We agree that a Pension ISA would be a big mistake which risks putting people off saving. A promise of ‘no tax in retirement’ is a promise the current Government is unable to make, because no future Government will be bound by it. While an ISA approach may be superficially attractive to some, it would damage the economy by shifting the entire tax burden onto the working age population, and put employer contributions and the progress of automatic enrolment at risk."

Last updated 01/07/2016