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AMP backs study of savings culture

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&#39s 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

projects.

AMP has been a major supporter of the IPPR&#39s research which has formulated

the development of the Government&#39s 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.”

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