Over 50s double ISA investments after limit rise

clock

Investors over the age of 50 have doubled their lump sum contributions into share-based ISAs following the Government's increase in their allowance to £10,200.

Income funds have benefited the most with contributions increasing by around 130% over the past three months, according to research from Virgin Money. IMA figures show a record net £23.6bn was invested in retail funds in the 11 months to 30 November 2009 - more than 10 times the amount invested in the same period during 2008. The surge continued in the three months from 6 October 2009 to 5 January 2010 with lump sum payments by the over-50s increasing by 120% following the change in allowances. Grant Bather, spokesman for Virgin Money, says: "The decision by Chancellor Alistair Dar...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Could investment managers be replaced by AI? Is it time to become a plumber?

Could investment managers be replaced by AI? Is it time to become a plumber?

Asking AI the important investment questions

Paul Wood
clock 21 April 2026 • 4 min read
Adapting portfolios for a more fragile world

Adapting portfolios for a more fragile world

'Europe remains especially exposed given its reliance on imported energy'

Jeremy Ocansey
clock 20 April 2026 • 3 min read
Vanguard to launch first-time investor service through targeted support

Vanguard to launch first-time investor service through targeted support

Received FCA permission

Jen Frost
clock 20 April 2026 • 2 min read