For immediate release: Thursday 18 May 2006

NPSS – THE WAY FORWARD FOR UK PENSION PROVISION

Ahead of the publication of the Government’s White Paper on Pensions, Richard Saunders, Chief Executive of the Investment Management Association (IMA) commented:

“The prospect of a reformed state pension clears the way for a consensus on the rest of the Pensions Commission's proposals.

There has been an extensive debate about the best way to run the National Pensions Saving Scheme. It is clear that the Pensions Commission model, overlaid by the IMA's proposals on governance, offers investors the best combination of universal portable individual accounts with value for money.

There now exists an historic opportunity for a new consensus and we look to the White Paper to point a clear way forward.”

-Ends-

For further information, please contact:
Helen Stephenson, Communications Officer, IMA 020 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA  07834 089332