Majority of people still stash cash at home - Portafina

First cash LISA launches 8 June

Victoria McKeever
clock • 1 min read

More than three-quarters (77%) of UK adults "proactively" stash cash at home, while one in 10 really do hide cash under the mattress, according to a study by pension advice specialist Portafina.

The study found the average sum kept at home was £110, but about a fifth hid more than £200. The findings came as it emerged Skipton Building Society was preparing to launch the first cash lifetime ISA (LISA) on 8 June. The cash LISA will offer an interest rate of 0.5% and investors will be able to open it with as little as £1. The LISA, which launched in April 2017, offers savers a 25% top-up on annual investments of up to £4,000. The government launched the wrapper to incentivise savings for first-time home buyers, as well as retirement. Emotional about cash Portafina polled...

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

IFAs look to boost clients' private markets exposure

IFAs look to boost clients' private markets exposure

Expect increase in stock market volatility

Jen Frost
clock 02 July 2025 • 2 min read
Winds of change: Private markets access for retail investors

Winds of change: Private markets access for retail investors

Investing in LTAFs, accessibility aside, needs careful consideration

Dorian Hughes
clock 02 July 2025 • 5 min read
Stock pickers call for caution over rapid return to US equities

Stock pickers call for caution over rapid return to US equities

Quilter's WealthSelect boosts fixed income and reduces equity exposure

Linus Uhlig
clock 01 July 2025 • 1 min read