What’s the Trend, ISA or Pension?

What’s the Trend, ISA or Pension?

Pensions, which were earlier known as the safest investment of a worker’s life, are losing their tag now with more people starting believing savings accounts as a better option for their money.

People are today experiencing that most of the pension products have become confusing or inflexible, following which they have started putting their money into ISAs every month with a view that will serve as a possible and better way of saving for retirement.

"There is more of a demand for the flexibility of ISAs”, says Bath-based Mr. Patrick Connolly at the financial adviser AWD Chase de Vere. “Pensions have a fairly negative perception”, he added further.

The same trend has also been confirmed by Mr. Graeme Currie, a financial consultant at Alan Steel Asset Management, who said that people have started moving away from pensions due to the increasing lack of trust among people for their retirement savings.

This fall in personal pensions is being witnessed since the year 2007, confirms the collected data from the Association of British Insurers about ISA contributions becoming more volatile now-a-days. Time is no far when ISA could even come closer to parity with personal pensions. But still, there are many people who despite knowing the facts, are attracted to the showcased attractions of ISAs.


FrenchTribune Specials

Christine Lagarde faces Official Investigation

Christine Lagarde, head of the International Monetary Fund is facing investigation for her role in an arbitration case that dates back to the time when she was French finance minister.

Lagarde has no plans to resign from her post at the IMF. She will call a meeting of the board of the multilateral body to clarify the situation, an IMF...

Most Popular

EA Sports announces the release of ‘Madden NFL 15’

Game publisher Electronics Arts (EA) Sports said in a...

U.S. District Judge slams HP's Autonomy Settlement

On Monday, the US District Judge slammed all the...

Time Warner to Layoff up to 600 Employees

Media and entertainment giant Time Warner Inc. is...

Ohio Witnesses Rise in Mumps Cases

Health Officials in Ohio said that Ohio is at verge of...

Poll

Can Greece Come out of Economic Problems: