View more on these topics

IMA calls for more guidance and advice around personal accounts

The Investment Management Association says there needs to be a greater focus on providing advice and guidance for personal accounts.

In response to a Personal Accounts Delivery Authority consultation paper, the IMA says issues around choice and consumer behaviour need to be addressed.

The IMA says it accepts Pada has to operate within existing legislation in the context of a market characterised by comparatively small DC pensions pots in the early years.

But it believes a more flexible regulatory regime, with more choice for retirement income in the longer term, is needed in the longer term.

IMA chief executive Richard Saunders says: “As DC pension saving becomes mainstream, the decision about how to maintain income in retirement will be of increasing importance. The current annuitisation requirements in the United kingdom are too inflexible to meet everyone’s needs and will inevitably have to be reviewed in due course.”

Recommended

Nauphal heads Swip

Insight Investment managing director Abdallah Nauphal has been appointed to head the Scottish Widows Investment Partnership business alongside his current role.

China’s economic bounce may already be over

By Mike Riddell (17 May 2016) Most people would explain the rally in global risky assets since mid-February as being primarily down to the spectacular volte-face from the Federal Reserve, where Janet Yellen (and others) dramatically toned down their narrative that the Fed would be hiking rates as many as four times in 2016. This explanation […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com