Autumn Statement: mixed news for pensions
Responding to the Chancellor’s Autumn Statement, TISA Director of Policy Malcolm Small said:
“The Chancellor delivered mixed news for the future of pensions. Cutting tax reliefs will be yet more evidence for a suspicious public that the Treasury views pension savings as a cash cow. That is another blow to public confidence at a time when we should be encouraging people to put money aside. By contrast, increasing the drawdown rate and expanding the scale and range of tax exemptions for ISAs are both welcome steps. What we need is a coherent strategy for retirement saving – rather than giving with one hand and taking with the other.”
Ends……
For further information, please contact:Malcolm Small, Director of Policy, Mobile: 07989 500771 Email:malcolm.small@tisa.uk.com
Tony Vine-Lott, Director General, TISA – Tel: 01372 374728, Mobile: 07790 006108Email: tony.vine-lott@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 130 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of savings vehicles & services and centralised investment propositions.