Call to combine pension and ISA regimes

The influential think-tank says the current system is too complicated and needs to be reformed in order to encourage people to save and proposes the combining of pension and Isa regimes with an overall contribution of £45,000. It also says people should be able to draw down 25% of their fund before retirement. Other measures proposed include the introduction of a mini-Isa with an annual limit of £1,200 to encourage youngsters to save and a stipulation people should not have to purchase an annuity at the age of 75. The call to reform the savings system comes as economists say the na...