UK - The government has a 'golden opportunity' to boost workplace pension saving by enabling automatic enrolment now, the Association of British Insurers (ABI) says.
Darling is widely expected to announce measures designed to increase spending and consumption, but Haddrill warned he must also recognise the value of saving as an 'economic stimulus'.
Haddrill explained long-term saving enabled financial institutions to extend more credit, which in turn would help boost the economy.
He called for automatic enrolment into workplace pensions - due to begin in 2012, to be brought forward and introduced as soon as possible.
Haddrill noted that if this was implemented at the start of 2010, it could lead to additional long-term savings in excess of £500m by 2012.
He said: "Savings are vitally important to the UK economy, and while we support the need to stimulate spending and growth, saving must not be ignored as a means of lifting and keeping the economy out of recession.
"The pensions industry, employers and the rest of the private sector is ready to deliver auto-enrolment as soon as the green light is given."
PricewaterhouseCoopers is also calling for early clarification of the Pensions Act 2008 requirements to maximise the opportunity to implement durable, appropriate pensions arrangements.
PwC partner and UK pensions leader Marc Hommel said: "We've seen a number of high-profile businesses take action to control their pension obligations recently but employers need early clarification on the requirements of the 2012 auto-enrolment regime in order to take a long-term view of their pension strategy."
Haddrill also called for the overall individual savings account (ISA) limit to be raised from £7,200 (US$10,700) to at least £10,800 (US$16,100) a year, as this would give individuals an extra incentive to benefit from tax-efficient savings.
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