ABI in savings gap initiative

The ABI has issued a five-point plan aimed at addressing Britain's £27bn annual savings gap. In a speech to the All-Party Parliamentary Group on Insurance and Financial Services, ABI director general Mary Francis outlined the association's proposals for a pension contributions tax credit. This is intended to encourage employers to contribute to employee pensions, thereby reducing the savings gap by £3bn. Regulatory reform of the sale of savings products could further reduce the gap by £4bn-£5bn as more people would gain access to appropriate financial advice and simpler products, Franc...