TADWORTH, England - In a survey to find out whether investors are likely to take up additional ISA allowances from 6 October this year, Legal & General questioned over 400 ISA and unit trust investors, all aged over 50, about the changes to the amount they could invest in a stocks and shares ISA.
The research shows that unprompted awareness of the increase in the ISA savings limits is highest among frequent investors in this age group - i.e. those who invest every year - at 53 per cent of those questioned.
When asked whether they were planning to invest up to their new GBP10,200 ISA limit, 44 per cent of over 50’s said a definite “YES” with a further 32 per cent unsure, potentially waiting to see what their financial position is before commiting their money.
Claire Evans, Legal & General Unit Trusts Marketing Director said: “Whilst the Government could clearly do more to help to raise awareness of the change to ISA allowances for this age group it is reassuring to see that nearly three quarters of ‘active’ savers (73 per cent) say they are planning to invest. These investors recognise the valuable tax savings they are being offered and the majority are likely to use their allowance before the end of the tax year.”
Claire added: “In times of financial uncertainty it is more important than ever for people to ensure that their savings are working as hard as they can. It could make sense for the over 50’s to take advantage of the increase in ISA allowances if they have any savings in deposit accounts, which do not offer the same generous tax advantages. They could consider using their extra tax-free allowances to put aside a small amount in a stocks and shares or cash ISA each month as this could make the difference between coping or struggling through difficult financial times.”
–ends–
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
For details regarding Legal & General ISAs, please visit the ISA (www.legalandgeneral.com/investments/isas/) section of our website.
Notes to Editors:
Survey - methodology: Research for the Legal & General ISA Survey was run by Aevolve (www.aevolve.co.uk) - through their consumer panel - in July 2009. Telephone interviews were conducted among 406 adults (age 50+) all of whom had invested in at least one of the following products; Cash ISA, Stocks and Shares ISA, Unit Trust. None of the respondents hold solely a Cash ISA. Of the total sample 51 percent of respondents are working and 34 per cent invest each year.
The Legal & General range of ISAs is provided by Legal & General (Portfolio Management Services) Limited
Registered in England 2457525.
Registered address: One Coleman Street, London, EC2R 5AA.
www.legalandgeneral.com
Source: Legal & General
Further information (journalists only): Mike Connolly, PR Manager - Wealth, +44-(0)1737-375365, mike.j.connolly at landg.com
Related Press Releases
Over 50s Will Invest Over GBP2.8 Billion in Stocks and Shares ISAs Before 5 April According to Research From Legal & GeneralOctober 1st, 2009 TADWORTH, England - Based on a targeted ISA research study(1) Legal & General, the UK's second largest stocks and shares ISA provider (see note to editors 3), estimates around one million investors age 50 and over will top up under the new ISA rules. Based on these figures we estimate the realistic value of the top up stocks and shares ISA market created by the increase in allowances for the over 50(2) age group, is GBP2.85 billion in the 2009/2010 tax year.
Celebrities Give Veg the Wow Factor, say ParentsSeptember 15th, 2009 LONDON -
- Parents Believe 'Celebrity' Role Models Have Greatest Influence on Children When it Comes to Eating Their Greens
Every parent knows that getting children to eat vegetables can sometimes be challenging; however, new research suggests parents today are more relaxed with their children when it comes to insisting how they eat their greens. With 65%* of UK kids turning up their noses at vegetables because of their taste, texture or smell, parents today have admitted to employing a wide range of tactics to encourage them to eat up.
Shoot&Proof(TM): Application for Certifying Digital Pictures, now Available on iPhoneSeptember 10th, 2009 PARIS -
- Turn Your iPhone into an Evidence Creation Machine!
Shoot&Proof(TM) enables you to take certified photos which constitute legally valid evidence (as shown by audits and cases won). When doing a rental inventory, after a car accident or a water damage, to prove the time of delivery and condition of a package, to record defects in work done by a contractor, or to strengthen your insurance case ...
New Vodafone Bonus Bank Rewards Vodafone pay as you go CustomersAugust 2nd, 2009 LONDON -
- Every Time you top up, We'll Give you 10% Back
- For Example, top up GBP10 and we'll put an Extra Pound in to Your Vodafone Bonus Bank
From 29th July, Vodafone UK pay as you go customers will be rewarded for their loyalty with Vodafone Bonus Bank. Every time a customer tops up, we'll give 10% back.
Strategic Alliance Between CPA Global and Applied Discovery Passes '50 Million Page' MilestoneJuly 6th, 2009 ST HELIER, Jersey -
- Clients Benefiting From Major Cost Savings in Document Review
ST HELIER, Jersey, July 7 /PRNewswire/ --
CPA Global, one of the world's leading providers of outsourced legal support services, and electronic discovery industry leader Applied Discovery Inc. (a division of LexisNexis), announced today that they have passed a major milestone since forming a strategic alliance in 2008, having jointly processed and reviewed over 50 million pages of evidence.
Rio Tinto Signs Legal Services Outsourcing Agreement With CPA GlobalJune 17th, 2009 LONDON - Major Cost Savings Projected From New Approach to Legal Work
Rio Tinto today announced that it has entered into a legal services outsourcing agreement with CPA Global that is projected to save Rio Tinto up to 20% annually in legal costs. Under the agreement, CPA Global, one of the world's leading providers of outsourced legal support services, are providing a team of lawyers in India to support Rio Tinto's in-house legal function on a global basis.
Over GBP6,000 Budget Boost at age 18 for Disabled Children's Child Trust FundsApril 21st, 2009 LONDON - David White, Chief Executive, The Children's Mutual (www.thechildrensmutual.co.uk) welcomed today's Budget announcement, "Children who receive disability living allowance in a tax year will qualify for additional annual payments of GBP100 or GBP200 into their Child Trust Funds. This means that next year approximately 100,000 children will benefit from the additional annual payments of which an estimated 40,000 will qualify for the higher GBP200 allowance.
Virgin Trains Will Run Extra Trains for Football Fans Travelling to the FA Cup Semi-FinalMarch 25th, 2009 LONDON - Virgin Trains will be providing nearly 3,000 extra seats for Manchester
United and Everton fans travelling to and from London for the FA Cup
Semi-Final. The company will be running six extra trains on Sunday 19 April.
More Pleasure From Leisure - the Upside of Down - Recession Points New Direction for ConsumersMarch 23rd, 2009 LONDON - A new survey of consumer trends reveals that people are increasingly
looking to enjoy themselves at home as the recession continues to bite. And
45% have declared "We just want to have fun".
Do What's Best for Each ExhibitorMarch 10th, 2009 MOSCOW - published an article by Vladislav
Malkevich, Director General of Expocentre (Moscow). The theme of the article:
the impact of the world financial crisis in its broad economic context on
exhibition activities in Russia.
Related News
Ghosn seeks extra euro1.5 billion in synergies from Renault Nissan allianceMay 29th, 2009 Renault, Nissan seek euro1.5 billion in new synergiesPARIS — The head of the alliance between Renault SA and Nissan Motor Co. said Friday he wants to squeeze out an extra euro1.5 billion ($2.08 billion) in cost savings this year to get the French and Japanese automakers through the economic crisis.
Survey: professors, researchers sought out investment advice in market downturnSeptember 17th, 2009 Professors, researchers sought investment adviceDES MOINES, Iowa — A recent survey of retirement account investors at colleges and universities shows even professors and researchers sought out investment advice as the stock market downturn began draining retirement accounts. The TIAA-CREF Institute surveyed 1,002 higher education employees between the ages of 50 and 70 during April and May.
Spears doing research on London's O2 arenaJanuary 25th, 2009 LONDON - US pop superstar Britney Spears is doing a lot of research as she wants to make her upcoming performance at London's O2 arena memorable. According to thesun.co.uk, Spears spent more than a week in London and has been reviewing video footage of shows there.
Times Co. says it has $20M in savings and won't close The Boston Globe, but legal fight loomsJune 9th, 2009 Times Co.: 23 percent cut means no Globe closureBOSTON — The Boston Globe's parent company, The New York Times Co., says it won't close the 137-year-old newspaper, after identifying $20 million in annual savings. The Times said Tuesday it would now focus "on executing the Globe's turnaround plan."
On Monday, it imposed a 23 percent pay cut on members of its largest labor union, the Boston Newspaper Guild.
Japanese economy shows growth after five quartersAugust 17th, 2009 TOKYO - Japan's economy grew 3.7 percent in the second quarter, the first positive increase in five quarters, according to preliminary estimates released Monday by the Japanese government. The figure represented a huge swing upward from the first quarter, when the gross domestic product (GDP) fell by an annualized 11.7 percent, and the quarter before that, which saw a dive of 13.1 percent.
New 'America the Beautiful' quarters series to feature Hot Springs National Park firstSeptember 9th, 2009 Hot Springs park to lead off new line of quartersHOT SPRINGS, Ark. — Hot Springs National Park will be the first site featured in a line of "America the Beautiful" quarters starting next year that will feature a national park from each state and U.S.
Sycamore to cut 30 percent of work force, blames poor economy, reduced telecom spendingApril 30th, 2009 Sycamore Networks to cut 30 percent of work forceCHELMSFORD, Mass. — Sycamore Networks Inc.
Britain's biggest UFO mystery revealed by Air Force base chiefJuly 9th, 2009 LONDON - For years, Britain's biggest UFO mystery had been kept under wraps, but now an Air Force official has admitted that an "extra-terrestrial" craft did visit the air base at Rendlesham Forest in 1980. Former Deputy Base Commander Col Charles Halt claimed that even though the incident was later covered up, "extra-terrestrials" had been the cause of the close encounter in Suffolk.
Obama administration recommends changes to boost use of state-run college savings plansSeptember 9th, 2009 Geithner pushes changes to college savings plansWASHINGTON — The Obama administration wants states to make changes to college savings plans that it hopes will expand their use by middle class families. Treasury Secretary Timothy Geithner says the Section 529 savings plans can help Americans to save for college because of the tax savings they offer.
Kiwi quandary: After 200 years, New Zealand realizes its islands don't have legal namesApril 21st, 2009 Kiwi quandary: New Zealand's islands need namesWELLINGTON, New Zealand — Experts searching for alternative Maori names for New Zealand's two main islands were startled to find that their commonly used English names — North Island and South Island — were never made legal, officials said Tuesday. To repair the 200-year-old oversight, the country's Geographic Board, which assigns and approves names for all New Zealand places, said it would take steps to legally name the two South Pacific islands that make up more than 95 percent of the country's land mass.