Exelerating

ACA supports flexible savings vehicles for retirement and house purchases

The Association of Consulting Actuaries publishes on its website:

“The Association of Consulting Actuaries (ACA) welcomes the debate sparked by the Housing Secretary, James Brokenshire’s, proposal to allow first-time buyers to use part of their pension pot as a deposit, namely that the ability for future generations to save in a flexible and joined-up manner is essential to help them meet ever increasing and competing savings needs.

ACA shares concerns expressed by many commentators that adequate retirement provision must not be compromised by draining pots too early in life. However, it believes that, with sufficient safeguards, a more flexible approach to saving is preferable to requiring separate savings for different purposes.”

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