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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.”


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 […]


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