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

Mediterranean diet reduces risk of womb cancer, study

According to a new study, adapting a Mediterranean diet can significantly reduce to risk of getting womb cancer.The researchers found that those who followed a Mediterranean diet have lowered their risk of womb cancer by 57 per cent.

They said that women who have Mediterranean diet can halve the risk of getting womb cancer. The disease...

Most Popular

EMC attempting to acquire Virtustream

In a bid to broaden its scope of cloud management tools...

Biologists perplexed at existence of 11 disparate species of Panther chameleons

An extensive study into the reasons for color variation...

Scientists convert embryonic stem cells into inner-ear hair cells

A new research published in the journal Development...

Researchers discover a gene that can make human brain sensitive to pain

Reporting a momentous new discovery, an international...

Poll

Can Greece Come out of Economic Problems: