SaRA causes a storm before it is even passed

SaRA, the subject of a private members bill introduced by Sir Malcolm Rifkind, aims to promote long-term saving by having a similar structure to an ISA but would operate under pension rules and regulations. It would also have the added flexibility of giving access to the funds before the age of retirement and according to Rifkind, the account will target low- to middle-income earners and young people who want to save for the future but also want to be prepared for any changes in their circumstances. Details of the scheme suggest the SaRA would look something like the US 401k pension, ...