£6bn pulled out of ISAs in last 12 months

The study found ISA savers have withdrawn £6bn in total in the last 12 months, the equivalent of £570 each and more than a quarter of the average ISA subscription for 2007/8. Reza Attar-Zadeh, director of savings and investments at Abbey, says pulling cash out of an ISA pot can be damaging for savers. Cash ISAs have an allowance of £3,600 per tax year and any withdrawals made can not be replaced, so part of your allowance would be lost forever, she says. “If you're saving towards a goal such as a home deposit or looking to maximise the amount of cash you have put away for retirement then...