Over a third of savers plan to turn their back on ISAs this year saying they do not understand the benefits, research suggests.
Widespread uncertainty over the potential gains from ISAs means 37% intend to forgo their allowance for 2009/2010, according to a moneysupermarket.com poll of 1200 people. Of those who will not be investing, almost a quarter (24%) will avoid ISAs because they do not understand them. Overall, 80% of respondents admitted confusion over the value of the savings vehicle, despite Government efforts to simplify the rules as well as increasing the amount which qualifies for the tax-free benefit. Just over half (51%) said they could not afford to save, with the remaining 26% saying they co...
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