Finance Tart » over 50’s

Moneynet slams government for ‘headline-grabbing’ with ISA increase

David Masters — Thu, 08 Oct 2009 18:34:22 +0000

The increase in ISA allowances for the over-50s was simply a headline-grabbing attempt by the government that will have little effect on the finances of older savers, Moneynet.co.uk said this week.
Since 6 October, over-50s have been allowed to save £5,100 per year in their Cash ISA rather than £3,600.
Moneynet.co.uk calculated that the average benefit of [...]

Savers encouraged to opt for an ISA as allowance rises today

Kay Murchie — Tue, 06 Oct 2009 08:33:53 +0000

From today, the total Individual Savings Account (ISA) allowance for people over 50 will increase from £7,200 to £10,200.
The £3,000 increase, which was announced in this year’s Budget, is eligible to those born on or before 5 April 1960. For everyone else, the limit will rise from 6 April 2010.
ISAs, which were launched a [...]

ISA-shy Brits waste £144 million

David Masters — Thu, 24 Sep 2009 16:59:47 +0000

Brits are handing over £144 million to the government in taxes they don’t need to pay by failing to put their savings in a tax-free account.
Research by Unbiased.co.uk found £109 million is being wasted by 6.2 million savers who don’t keep their savings in a tax-free cash ISA account.
Some 1.7 million shareholders are wasting a [...]

Over-50s unaware of ISA changes

David Masters — Wed, 23 Sep 2009 17:26:38 +0000

Older savers are being kept in the dark as to how much they will be able to invest tax-free when the ISA limit increases for over-50s next month.
Research by Saga found just one in twenty of over-50s know what the new ISA limits will be.
More than half of those polled were oblivious to any changes [...]

Over-50s not an economic burden

David Masters — Tue, 15 Sep 2009 09:17:09 +0000

People over 50 make an important contribution to the UK economy, RIAS claimed this week.
Janet Connor, managing director of the specialist insurance provider, said the stereotype of older people being a drain on the economy is unfounded.
“The over-50s are not only earning more than the under-50s, but they are spending more as well which enables [...]

Over 50s use multiple credit cards

David Masters — Sun, 06 Sep 2009 06:40:55 +0000

Half of Brits over 50 use more than one credit card to manage their finances, research by Saga has discovered.
One in fourteen (7%) of over 50s carry five or more credit cards in their wallet.
However, almost three quarters (73%) of over 50s have never missed a payment deadline, compared to half (53%) of borrowers under [...]