- Thursday, 10 December 2009The National Association of Pension Funds (NAPF) has suggested that Alistair Darling's Pre-Budget Report (PBR) has been a "mixed bag" for pensions.
While certain pension scheme changes have been welcomed, the organisation has voiced its concern over the lack of alterations geared towards encouraging people to save for their retirement.
Without a change in saving awareness, a proportion of people could find themselves in financial difficulty as they get older. Subsequently, the number of people coming to rely on individual voluntary agreements (
IVAs) could be directly impacted.
Joanne Segars, NAPF chief executive, said: "The Pre-Budget Report is a mixed bag for pensions and it is disappointing that the government has not done more to help people save for retirement.
"We welcome the additional issuance of long-dated and index-linked gilts that pension schemes need but this is offset by the damaging changes to the UK's established approach to pensions taxation."
Alistair Darling also revealed in the PBR that the government was to increase its funding allocation to the Citizens Advice Bureau.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960