Ron Sandler's recommendations are being challenged by a Government senior economic adviser and chairman of the FSA. Dr. Ros Altmann, Downing Street economic adviser, said that two weeks after the publication of the Pickering and Sandler reviews, the Government was no further towards motivating more people to save. She added that simple products without advice or other forms of persuasion would not work.
One of the most effective ways to motivate people to save would be through incentives through tax relief, and combining this with simple products would be effective. Aifa director general Paul Smee said that there appears to be a lot of arguments to go through before the Sandler review could be adopted.
Our View
We wish Dr Altman would contact us as we have our own views on how people would be motivated to save more.