Just 5 per cent of those aged 50 plus know what the new Isa limits being introduced on 6 October 2009 will be, according to a Saga study.

Isa limits are being increased to £10,200 for those aged 50 plus from next month but research conducted by Saga showed 54 per cent have no idea what the new limits will be.

A further two fifths (41 per cent) know the limit is increasing but did not know by how much.

But the research did highlight two fifths (39 per cent) are keen to top up their Isas following the change.

Andrew Goodsell, chief executive of Saga Group, said: “Having access to a larger tax free savings and investment allowance will help the over 50s plan their retirement income more efficiently and we do urge people to look out for competitive rates to ensure they invest their money wisely.”

At 1 Stop Financial Services we can help people look at their allownaces and make sure they are making the most of the changes in the ISA limits.

Tags: 1 Stop Financial, ISA, new ISA limits, SAGA, Tax Free Savings

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