The next Government should use its first 100 days in power to set out the foundations for a healthier savings culture in the UK, says Friends Provident.

Public policy should allow people the freedom to become self-reliant, and the confidence to do so, said the group, and argued that this is only possible by removing barriers to saving that exist and offering incentives to encourage more saving.

The message comes from the insurer following the release of its Pensions and Savings Manifesto document, which sets out the key measures that the succeeding Government should put into place in the next Parliament. It also urges a newly-formed administration to remove means testing, commit to Pensions Simplification principles, and take the politics out of pensions. The firm also offered its support for the introduction of an independent body responsible for developing a long-term savings strategy.

"The barriers to saving in the UK must be removed and Government has to act quickly to instil a culture that not only addresses savers' concerns but also provides the right amount of freedom and flexibility," commented Trevor Matthews, CEO for Friends Provident.

"We are calling on the new government to take some quick and decisive action that will make a real and positive difference to pensions and savings in the UK and will deliver the required confidence and freedom for people to make the most of their working lives and their retirement."

The Government must also enable employers to offer good quality pensions to all staff."Government has to implement a future policy that provides employers with sufficient confidence that the contributions they make on behalf of their employees will generate positive benefits for their company. We have to enable employers to give guidance to their employees on retirement saving within a regulatory 'safe harbour' that stops them being paralysed by worries over future legal actions," Matthews added.

The 'manifesto' also recommends that the annuity purchase rule by age 75 be scrapped.

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