Saints should replace pensions claims policy paper

clock

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...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Tyndall Partnerships head Sullivan on bespoke empowerment

Tyndall Partnerships head Sullivan on bespoke empowerment

‘No two IFAs invest in the same suite of models’

Isabel Baxter
clock 09 December 2024 • 4 min read
Smoothed funds set to be a 'bigger asset class for the advice market'

Smoothed funds set to be a 'bigger asset class for the advice market'

‘An attractive low-risk solution for retirees’

Isabel Baxter
clock 25 November 2024 • 3 min read
Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read