AMP is sponsoring a new research centre established by the Institution for
Public Policy Research to study UK savings culture and financial exclusion.
The research centre will co-ordinate studies into financial welfare issues
in the UK relating to the way people save.
It will also conduct in-depth research into financial exclusion and asset
welfare, including the Government's recently announced baby bonds.
AMP believes the study will allow many of the issues surrounding the child
trust fund to be analysed and evaluated. The research centre will look at
the savings experience in other countries and test the basic features of
the baby bond. It will also have an advisory role in pilot studies of new
AMP has been a major supporter of the IPPR's research which has formulated
the development of the Government's proposals for a child trust fund. Its
own research into personal finance welfare among people on low to middle
incomes shows lasting savings habits are developed in childhood.
Corporate affairs director Richard Astle says: “The idea of child trust
funds is new in the UK. We believe there is much to be achieved by pulling
together international research and testing the scope and workability of
this idea. Asset welfare is an idea that deserves attention. We all know
the importance of building a savings culture for the UK.”