IMA dismisses proposals for Isa pension products

The IMA does not support the concept of a retirement Isa, according to Alan Burton, chairman of the ...

The IMA does not support the concept of a retirement Isa, according to Alan Burton, chairman of the IMA, as it will only add to pensions' apparent complexity. In a keynote speech to delegates at the IBC Unit Trust and Oeics Conference in London last week, Burton criticised the complexity of current pensions and the associated tax regime, saying a combination of the two has resulted in the high cost of pensions and savings advice. Burton said: 'The problem is that the need to meet the regulators' quite rational demands for appropriate suitability of advice and full disclosure, coupled wi...