Designing a Life

The purpose of the research reported in this paper is to design a savings vehicle that would be attractive to low-to-middle income families – the group in society that has great difficulty accumulating savings but, paradoxically, is most in need of a safety net in uncertain economic times – and would also be viable for financial service providers. This account would have to be available to meet the varying needs of people throughout their lives, and so could be designated generally as a ‘life-course savings account’. This paper sets out what a simple saving product should look like, and considers the type of ‘nudges’ that the government and financial service providers should put in place. (IPPR, 2011)

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