• HOME
• ALL OFFERS
• NEWS
• BRAIN GYM
• UNDER 40?
• HOW IT WORKS
• ABOUT US

BLOG OF THE DAY

The Cookbook Re...

• SKYE GYNGELL’S MY FAVOURITE INGREDIENTS is published by QUADRILLE on Feb 5th 2010 I ... Read On

EDITOR'S PICKS

• Finance
• General
• Health & Beauty
• Holidays & Travel
• Home & Garden

NEWS

Pensions deficits 'the result of increased life expectancy'

Solar panels 'mean homeowners have everything to gain'

The Cayman Islands 'are more than just a tax haven'

Are credit cards worth it?

Are you willing to give up high heels for your health?

Home  »News  »Finance News

Isa limit for over-50s rises

06/10/2009

From this week, the amount of money that over-50s can deposit in a tax-free individual savings account (Isa) has risen from £7,200 to £10,200. The change in the savings allowance was announced in April's Budget and is applicable to anyone born before April 5th 1960. Of the full amount allowed to be held in an Isa, up to £5,100 can be in cash and the rest can be made up from stocks and shares. The increase in the limit was brought in to help savers who had been hit by the low interest rates set by the Bank of England. On making the announcement back April, chancellor Alistair Darling said: "I'm determined to help savers, because while low interest rates have helped millions of homeowners, I also know that they have hit those who rely on their savings to get by." Isas were introduced in 1999 by then chancellor Gordon Brown to replace Peps and Tessas. Get a free equity release guide and find out how you can get some additional income Posted by Carla Spuri

Related Finance News

• 10/08/2010  Pensions deficits 'the result of increased life expectancy'
• 06/08/2010  Are credit cards worth it?
• 03/08/2010  Don't be tempted to borrow money for your holiday, advises CCCS
• 28/07/2010  Shop around for best pension deals, advises Saga
• 26/07/2010  Mortgages 'to remain stable'
• 21/07/2010  It's not easy to 'find a competitive savings deal'
• 16/07/2010  Should the government do more to protect our savings from inflation?
• 23/06/2010  Budget 'better than expected'
• 30/04/2010  Forced retirement 'a waste of money'
• 21/04/2010  'Look through an equity release guide' when planning retirement
• 11/02/2010  New women's employment strategy launched
• 04/02/2010  Consumers 'not returning' to pre-credit crunch spending
• 26/01/2010  Changes to retirement age 'will help over 50s find employment'
• 22/01/2010  Unemployment increases among over 50s
• 15/01/2010  People 'turning' to equity release
• 17/12/2009  Fewer homes repossessed, research shows
• 16/12/2009  Know your consumer rights this Christmas, says Which?
• 07/12/2009  Employees nearing retirement 'happiest in their job'
• 25/11/2009  OFT 'not allowed' set bank charges
• 25/11/2009  Financial worries 'causing health problems'
• 18/11/2009  Over 50s 'face difficulties getting finance for new businesses'
• 16/11/2009  Government needs to consider equity funding, says SHIP
• 03/11/2009  Many will-holders not updating their wills
• 02/11/2009  People planning for old age 'should consider equity release', says ERSA
• 30/10/2009  House prices rise in UK
• 27/10/2009  Company urges pensioners to benefit from changes to pension credit rules
• 23/10/2009  Proposals to alter retirement age 'causing confusion'
• 19/10/2009  Equity release lending up 19% year-on-year
• 14/09/2009  New ISA limits 'to save £63bn in tax'
• 11/09/2009  Home insurance claims drop
• 26/08/2009  Cyclists warned of bike theft risks
• 11/08/2009  Cost-cutting home insurance tips unveiled
• 04/08/2009  Retirees choosing equity release to help their children