The Government’s approach to encouraging the accumulation of lifetime savings follows a life cycle model. It concentrates on three key stages: early life, early career and the long-term. For each of these phases, the Government has developed tax-advantaged savings products and other schemes that are intended to promote the growth of financial and property assets.
The types of accumulation products and schemes sanctioned by the Government has changed significantly over the course of the last decade, as it has responded to fiscal, social and savings challenges. We will continue to work with the Government throughout 2017 in order to ensure that lifetime savings incentives are appropriate, effective and properly targeted.