The maximum amount savers can put in an Isa is expected to rise to about £11,532 from next April, following rises in the cost of living, according to reports.
September's Consumer Prices Index (CPI) figure, announced yesterday, was 2.2%, down from 2.5% in the previous month. This means Isa allowances could rise from £11,280 to £11,532 next April, according to the Daily Mail. The annual Isa allowance is increased on an annual basis by reference to the CPI. Inflation is also a factor in deciding state pension payouts. The basic state pension increases in line with rises in average UK earnings, the CPI or 2.5%, depending on which is highest. Because inflation was lower than the 2.5% guarantee, pensioners should expect at least a 2.5% ris...
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