May 11 2007
Expansion into the growing child trust fund (CTF) sector has prompted the Pep & Isa Managers' Association (Pima) is to rename itself as the Tax Incentivised Savings Association (Tisa), it has emerged.
Bosses at Pima explain that the name change was judged to be necessary in light of the growing number of savings schemes with which it had become involved in recent years and will come into effect form July 1st 2007.
Commitment to aiding the process of consumer savings throughout the UK will remain unchanged when Pima becomes Tisa, those involved with the decision have insisted.
Director general at Pima Tony Vine-Lott said: "We believe the name Tisa better represents our focus in the past few years.
"We look forward to effectively representing the aims of our members and the needs of the consumer in assisting government to further improve and develop schemes and initiatives to support savings and broaden and deepen family wealth creation in the UK."
Proposals put forward by Pima, acting in its role as a representative trade organisation, were incorporated into the design of CTFs which are now being invested in by thousands of parents across the country.
