Saints should replace pensions claims policy paper

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Pensions should be abolished and replaced with a universal savings wrapper called a Self-Administered Investment Trust (Saint), claims a policy paper published by the Centre for Policy Studies.

Saints can get Britain saving again, a policy paper by Charles Elphicke, head of tax and employee benefits at the law firm Reed Smith, claims the best way to solve the pensions issue is to offer a savings scheme that won’t lock money away for decades, and will leave savers in control of how their money is invested and, if they want to, when to spend it. The paper claims a Saint addresses the problems people have with current pensions savings, including a distrust of the government and pension companies, and worries about locking away their money for 30 to 40 years. But Elphicke does say t...

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