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IMA welcomes reforms but wants action on IPAs

The IMA has welcomed the Government&#39s intention to simplify the

regimes governing pensions tax but is calling for further measures to be taken on Individual Pension Accounts.

Chief executive Richard Saunders says: “We need to look closely at the detail, but at first sight, removal of the complex limits on annual contributions to personal pensions should significantly simplify administration for providers and their clients.

The next step must be for the Government to reform the rules on Individual Pension Accounts so these truly can become as simple a product as an Isa.”

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