Treasury explores £100k ISA cap and pension lump-sum cut

Treasury officials have consulted financial services executives on plans to limit the amount savers can hold in tax-free ISA accounts, with one suggestion being to cap it at £100,000, the Sunday Telegraph reports. The current annual limit on how much savers can put into ISAs is £11,520, half allowed in deposits and half in investments. Although ISA millionaires are still relatively rare, according to the newspaper, those savers that hold more than £100,000 in ISAs are more common. An eventual cap could affect as many as 2% of investment ISA savers, it suggested. Officials are al...