Yet another type of pension is currently on the drawing board at the Treasury. Apparently, the time has come to launch a 'retirement ISA'.
No details are available at the moment but, contrary to some views in the finance industry, the retirement ISA will be available in addition to an IPA or individual pension account.
IPA's have not really taken off and most industry people thought it would be scrapped. However, a Treasury spokesman said "we will be looking at proposals that have been put forward as an addition to the IPA, rather than substituting it".