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Move away from Pension ISA a sensible decision

Responding to the news that the Chancellor will not be announcing major reform to pension tax relief in the Budget on 16th March, Huw Evans, Director General of the Association of British Insurers (ABI) said:

Huw Evans, ABI Director General"We welcome the Chancellor's sensible decision not to proceed with a Pension ISA. Although we argued for a 'Savers’ Bonus' flat rate reform, the current system works well with auto enrolment and delivers valuable incentives to save for retirement. We now need a period of stability to ensure confidence can grow and the benefits of auto enrolment can be realised.

"There is still much to be done to help people understand pension tax incentives and we must all focus our efforts on raising awareness and using better language so tax relief does its job in encouraging people to save more for their retirement."

Ahead of the Chancellor's expected Budget decision on pension tax relief reform, the ABI published 10 reasons not to move to Pension ISA.  

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Last updated 01/07/2016