Are ISAs taking over from pensions in retirement planning?

Third of pension savers favour ISAs - Metlife

Victoria McKeever
clock • 2 min read

Next month's increase in the annual savings limit and more flexible access are among the attractions that could see the ISA overtake the pension as the retirement-planning tax wrapper of choice, according to research by Metlife.

The life insurance company suggested the increase in interest in ISAs for retirement planning was being driven by a switch in consumer attitudes following pension freedom as well as the upcoming increase in the annual allowance from £15,240 to £20,000. Metlife's research found more than three-fifths (63%) of retirement specialist advisers welcomed the greater flexibility of ISAs and had changed their recommendations on using them in retirement planning while just over a third (34%) of savers said they preferred ISAs to pensions as a route to generating income in retirement.  The resea...

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 Retirement

Sounding the alarm: Facing the retirement reality check

Sounding the alarm: Facing the retirement reality check

'At the heart of the issue is a worrying lack of engagement'

Laith Khalaf
clock 17 June 2025 • 3 min read
Why we plan holidays, not retirements: Changing the client conversation

Why we plan holidays, not retirements: Changing the client conversation

'This is scary for us as an industry but even more scary for us as a nation'

Verona Kenny
clock 04 June 2025 • 4 min read
Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Inflation drives 'modest' rises in PLSA's Retirement Living Standards

Majority of pre-retirees expect to live with someone else in retirement

Martin Richmond
clock 03 June 2025 • 8 min read