ISA Special: Where is the hot money going?

Last week, the Office for National Statistics (ONS) released figures showing that, in 2010/11, and for the first time in a decade, saving into stocks and shares ISAs overtook savings into pensions. The new trend was attributed, in part, to the complexity of pension legislation over the last ten years compared to the simplicity of ISAs. Since 2009-2010, stocks and shares ISA saving has grown by roughly £3bn, while pension saving grew by less than £1bn. As the end of the tax year fast approaches, clients will be eager to use their ISA allowance, which is currently up to £10,680 for a...