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06/10/2009 12:25:13

Over-50s 'look to make use of Isa increase'

With today (October 6th) seeing savings allowances on individual saving accounts (Isas) increasing for the over-50s, new research reveals many consumers are looking to make full use of the rise.

As the total amount of money that can be ploughed into an Isa has surged to £10,200, Barclays Stockbrokers indicates that 63 per cent of those who are eligible intend to contribute the full amount.

Two-thirds of those questioned are looking to boost their stocks and share allocations, while 13 per cent are aiming to increase investments in Isas' cash-based allowances.

However, nine per cent of respondents claim their decision on how much to invest will depend on the savings rates they are offered.

Barbara-Ann King, head of investments for Barclays Stockbrokers, states: "It is clear our Isa investors are keen to make the most of the increased Isa allowances and take full advantage of the tax-free benefits."

She adds that in a volatile financial market it is important for investors to have interests in a range of products "to allow them to capitalise on opportunities as they arise".

Meanwhile, recent Halifax research revealed the average Briton over the age of 50 holds £12,721 in an Isa.

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