Government plans to cut Isa allowances are likely to hit the one in five people using investments to help fund retirement, according to research by ICM.
Commissioned by Intelligent Finance, the survey reveals 21% of the 1000 people questioned plan to take out an Isa to boost their retirement funds. This figure rises to almost three out of 10 people in the 35-44 age bracket and shifts to more than one in three (35%) of the 55-64 year-olds. This is despite government plans to scale back the amount of money which can be invested in an Isa from 2005 from £7,000 on maxi Isas to £5000 and £3000 on mini (cash) Isas to £1000. IF says evidence indicates Isas are especially popular with low to middle income groups for building up their retir...
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