IMA welcomes Budget announcement on future of retirement income
In response to the Chancellor’s announcements on the future of pensions, Jonathan Lipkin, Director of Public Policy at the Investment Management Association (IMA), said:
“The IMA welcomes the recognition by the Government that those saving in DC schemes need greater flexibility of retirement income options, including annuities, and increased support when it comes to making important, and potentially irreversible, decisions in later life.
“Asset managers and insurers need to develop products that can credibly serve what will be an increasingly diverse range of needs. The asset management industry also recognises that rebuilding trust in pensions partly depends on the industry itself continuing to strive for improvement in both operating practice and clear, simple accountability for costs and charges.”
