To all of the profiles with the exception of the elderly couple past pension age, the introduction of a low cost pension, possible administered by the state will prove a major in future pension provision both in its interaction with existing plans and in its own right.

a. ISA (Individual Savings Account)

Age is no barrier to saving but the level of net spendable income most definitely is. Provided the plan is easily understood and has the facility to adopt a range of investments, the use of endowment policies, for savings purposes, may well come to an end.

b. PEPS post 1999

Current investors, which includes all profiles, will be in a position to roll their investment to the ISA.