For immediate release: Wednesday 15 November 2006

PENSIONS BILL - THE FIRST STEP TOWARDS NATIONAL PENSION REFORM

Commenting on today's announcement that a Bill will be introduced to reform pensions in the UK, Richard Saunders, Chief Executive of the IMA commented:

"Today's announcement will enable the Government to take the first steps in addressing pensions reform in the UK. We warmly welcome the setting up of a Delivery Authority as this will help to ensure that the right, detailed decisions are taken in setting up the NPSS.

Our view remains that the NPSS holds out the prospect of significantly boosting savings, but critically its success will depend on getting the detail right. We look forward to continuing to work with the Department and the Delivery Authority to help achieve this."

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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