Why should you save for your retirement?
How can you save for your retirement?
How much should I save?
Pensions have gotten a lot simpler
Finding A Pension IFA
ISAs
Individual Savings Accounts (ISAs) are a great way to save. They are available to individuals who are UK resident for tax purposes. The minimum contribution levels are low and ISAs are available to those aged 16 and over for a Cash ISA or aged 18 or over for a Stocks and Shares ISA. You can contribute up to £7,200 a year into an ISA and gain gross interest. You can also withdraw money from the majority of ISAs whenever you want.
There are two types of Individual Savings Accounts, a cash ISA or a stocks and shares ISA. You can invest up to £7,200 in stocks and shares in the 2008/2009 tax year in an ISA. Up £3,600 of this amount can be saved in cash with one provider. The remainder of the £7,200 can be invested in stocks and shares with the same provider.
The investment limits for the 2008/2009 tax year follow.
| Cash ISA up to £3,600 | Plus |
The remainder of up to £7,200 in a Stocks and Shares ISA |
| Or Stocks and Shares ISA up to £7,200 |
