Rebuilding public confidence in long-term savings will require fresh thinking from the government, financial services industry and employers as well as access to basic financial advice, the National Consumer Council will tell Treasury Select Committee members tomorrow.
A meeting of the House of Commons Treasury Select Committee MPs will tomorrowcall evidence from Ron Sandler, Payl Myners, the NCC and others to discuss thecurrent long-term savings gap and how it might be addressed. NCC senior researcher James King says simplified and cheaper products will not be enough to solve the savings gap as people's needs can only be met through fresh ideas and "access to basic financial advice". This is counter to the government's proposal to introduce simplified "stakeholder" regime products – originally proposed by Ron Sandler in his review of the medium to...
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
