UK - Fund managers are urging the government to concentrate on simplifying pension and saving tax proposals and not become distracted by the £1.4m lifetime cap.
The Investment Management Association put forward its view in response to the Treasury’s consultation on “Restoring confidence in long-term saving”.
IMA chief executive Richard Saunders said: “A long-term, coherent and stable structure for financial services would give product providers the scope and freedom to design a new and innovative generation of transparent and flexible products for consumers.”
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.