For Immediate Release: Tuesday 11 July 2000

INDIVIDUAL PENSION ACCOUNTS

The Association of Unit Trusts and Investment Funds warmly welcomed the Government’s paper – "Individual Pension Accounts".

Philip Warland, Director General of AUTIF commented:

"We have argued for some years that it should be much easier for people to save for their retirement using investment funds in the same way as they save generally through PEPs and ISAs. Individual Pension Accounts will give people that choice.

"Key elements of the IPA will be transparency of product and charges, flexibility and, as the Government says, a sense of ownership."

He added:

"We particularly welcome the SDRT exemption for IPAs. This demonstrates the Government’s commitment to making the IPA work."

For further information please contact:

Philip Warland, Director General, AUTIF - +44 (0)20 7831 0898
Anne McMeehan, Director of Communications, AUTIF - +44 (0)20 7831 0898
Clare Arber, PR Manager, AUTIF - +44 (0)20 7831 0898