View more on these topics

Naismith says Isas could provide solution

The development of Isas as a retirement solution could improve women’s pensions, said Scottish Widows head of pension market development Ian Naismith.

Speaking at the House of Lords, Naismith said evidence shows women are attracted to Isas disproportionately more than other long-term savings products. He said this fact should be capitalised on as after A-Day Isas can be automatically converted into a pension as the saver moves tow-ards retirement.

Naismith said the Government should also look at proposals such as excluding Isa assets when calculating means tested benefits if means testing continues into the future.

He criticised the current system for the way it favours higher-rate taxpayers and said a fairer system of distributing tax relief needs to be found.

The Government will carry out a review of Isas in 2006 and says it is fully committed to the savings vehicle and will look at ways it can be developed.

Naismith said: “Using Isas for your pension will become increasingly common and we know they are more popular among women.

Recommended

CII criticises FSA plans for firms to vet staff

The Chartered Insurance Institute has attacked the FSA’s proposals to shift responsibility for vetting new employees onto firms, arguing the move could increase misselling. In its recent consultation paper 05/10 on changes to the FSA Handbook, the regulator suggested dropping “customer controlled functions” from the regulatory regime where individuals are dealing with retail and wholesale […]

Window of opportunity

M-Day With Mortgage Day came much industry grumbling, especially over KFIs, but it’s not all been bad, explains Lindsey Rogerson

NU International hits record new business levels in Q3

Norwich Union International hit new business levels of £243m by Q3 of 2005.The figures show an increase of 41 per cent on the same period last year for the Dublin based firm. NU International marketing director Paul Sherlin says: “Our third quarter reached record sales of over £96m and we can attribute much of this […]

Craig Inches – thoughts on how to preserve capital and generate income in an inflationary environment

In this short video, Craig Inches, head of short rates and cash at Royal London Asset Management, offers his thoughts on how to preserve capital and generate income in an inflationary environment. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment