TISA appoints Kenn Taylor to boost retirement services team
TISA, the financial services membership organisation, has enhanced its retirement policy and technical team with the appointment of Kenn Taylor to a newly created role.
Kenn Taylor is a senior industry business advisor; with over 30 years industry experience, most recently leading consulting teams with Troika, Navigant and Grant Thornton.
A key focus of Kenn’s role will be to support TISA’s Retirement Policy Council and Technical Committee, delivering seminars, training and technical input, working in conjunction with TISA’s existing retirement services team.
Adrian Boulding, Policy Strategy Director of TISA said:
“TISA’s response to the recent Treasury consultation on pension tax relief has set the bar for the style of authoritative, thought leading, evidence based, practical solutions that we are capable of proposing. Kenn can draw on more than 30 years’ experience in financial services and his consultancy background in particular will provide a real boost as we develop our initial pension tax relief proposals in more detail. Importantly, Kenn will also collaborate with the TISA membership as we develop a number of other key projects in the retirement space.”
TISA’s proposals to deliver a more effective approach to incentivising long-term savings, address the specific needs of the self-employed and boost public confidence in pension savings included:
- Removing the current approach to tax relief and replacing with a single national rate of pension matching contribution incentive for DC schemes, with the State providing £1 for every £2 from the employee/individual (“Buy 2 get 1 free”)
- Scrapping the lifetime allowance for DC schemes
- Reducing annual allowance limits on both DB and DC schemes
- Retaining tax-free growth and tax-free cash based on its clarity and popularity
- Discontinuing salary sacrifice for the purposes of simplicity and savings to the State
- A new Self Employed Pension scheme where the state would match contributions, for example 1 for 1 made by individuals up to total annual contribution limit of £4,500 per annum.
Ends….
For further information please contact:
Alistair Kellie – Telephone: 0207 680 6558/Email Alistair.Kellie@newgatecomms.com
Sara Lyons – Telephone: 020 7680 6550 / Email Sara.Lyons@newgatecomms.com
Email: TISA@newgatecomms.com
Notes for Editors
TISA is a not-for-profit membership association operating within the financial services industry. The focus of our recommendations and actions is improved outcomes for consumers and UK plc with this approach leading to a stronger UK financial services industry.
TISA’s growing membership comprises over 150 firms involved in the supply and distribution of savings and investment products and services. These members represent many different sectors of the financial services industry, including asset managers, insurance companies, fund managers, distributors, building societies, investment managers, third party administrators, consultants and advisers, software providers, financial advisers, pension providers, banks and stockbrokers.
Having a legacy of focusing predominantly within the tax incentivised products area, TISA has in recent years moved into the broader savings and investments world, extending our standing as trusted adviser over a much greater remit.
TISA has a successful track record in working cooperatively with government, regulators, HMT, DWP and HMRC to improve the performance of the industry and the outcomes for the public. Effective policy and regulation and the creation of efficient industry infrastructure continues to be the major focus for our members. TISA is unique in that it represents the entire financial services industry, incorporating cross-sector policy, industry and technical expertise. Whilst we maintain a solid partnership with government, the regulators and wider industry, we remain independent and develop neutral views and opinions. This impartiality is reflected in our ability to drive development projects which improve industry performance and consumer outcomes, putting us in the unique position of being able to constantly challenge the status quo to bring about material improvement.