The Government should help the public to save more by increasing ISA limits and bringing forward its plans for pensions auto-enrolment, says the Association of British Insurers (ABI).
A survey, commissioned by the ABI, suggests more than 50% of British consumers are planning to save more money for the future due to the difficult economic climate. However, the ABI says the Government is not doing enough to help, and could rapidly boost savings uptake with a few simple measures. Stephen Haddrill, director general of the ABI, says: "Right now, nearly five million employees could be benefiting from free money into their workplace pension from their employer and the Government. "Auto-enrolment would ensure that those people, and many future employees, can start building...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
