The Pep & ISA Managers Association (PIMA) has been rebranded the Tax Incentivised Savings Association (TISA), as of Sunday.
TISA says the association will lead debate on Government’s savings policies on the retail financial services industry’s behalf.
“Drawing on PIMA’s rich heritage and extensive experience working across the industry and with Government on behalf its members and consumers, TISA will continue to be the voice of savings in the UK,” it notes.
TISA says it will continue work on PEPs, ISAs and Child Trust Funds (CTFs), to represent the 20 million savers who invest almost £300bn.
“PEPs and ISAs have worked extremely well for a very high percentage of adults across all sectors of UK society, and the CTF, as a universal savings scheme, will soon be doing the same for the young,” TISA director general Tony Vine-Lott says.
“TISA seeks to utilise what we have learnt from these schemes to continue to broaden and deepen savings throughout the whole UK community.”
TISA will assist Government and industry with the ISA changes, including the phasing out of PEPs, in the lead up to the 2008-2009 tax year ISA regime change.
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