Fidelity International lobbies UK MPs to reform the ‘inadequate' savings industry

Manifesto calls on MPs from all major political parties to cut savings gap by building on tax breaks and changing pensions contributions cap

Fidelity International is calling on political parties to address inadequacies in the savings industry with a manifesto promoting more incentives for savers, including an annual Isa bonus. Its manifesto Improving Incentives for Medium- and Long-term Savings sets out plans to correct what it sees as an “inadequate” savings system by introducing an annual Isa bonus, an annual cap on pension contributions and incentivising Isa to pension transfers. “UK household savings is inadequate,” the paper says. “This is so when considered against both historic levels and the level required to s...