Professional Pensions | 02 Jul 2009 | 12:34
Categories: Regulation
Simplifying rules and reducing regulation should be key components in "reinvigorating a culture of saving", Conservative pensions spokesman Nigel Waterson says.
Speaking at the launch of the Association of Independent Financial Advisers report - Financial Planning through Retirement, conducted in association with Prudential - Waterson said that while auto-enrolment has an important part to play in boosting savings there were still plenty of other things that can be done to encourage young people in particular to save for retirement.
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He said: "We need to look at retirement in a more holistic manner and see how we can make the concept of pension saving more attractive.
"For instance allowing access to pensions in a similar way to that in US 401K plans could help."
Waterson also highlighted that it is still Conservative policy that "compulsory annuitisation should be swept away as long as people have sufficient funds to prevent them from falling back on the state".
Categories: Regulation
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