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...
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