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

NASA spends $349 Million to build a Tower, then shuts it down without ever using

In June, the National Aeronautics and Space Administration (NASA) had finished work on a huge laboratory tower in Mississippi. The structure, which was designed to test a new rocket engine in a chamber that mimicked the vacuum of space, cost about $349 million.

The United States space agency had spent a huge amount of money on the tower...

Most Popular

Astronaut Chris Hadfield to arrive in Scotland

Commander Chris Hadfield, a retired Canadian astronaut,...

Salt Consumption Safer Than Sugar: Research

As per a new research, sugar can be more hazardous to...

Humpback Whales return to New York City Waters

According to new research, humpback whales have come...

Industry Minister James Moore announces Members of Space Advisory Board

It has been reported that the Industry Minister James...

Poll

Can Greece Come out of Economic Problems: