Welcome!

Symbian Authors: Jack Newton, Kevin Benedict, Matthew Lobas, Shelly Palmer, RealWire News Distribution

News Feed Item

Silver Savers Get Savvy With Their ISAs and Families Getting Into The Savings Habit

CHESTER, England, February 18, 2013 /PRNewswire/ --


  • Retirees are most likely group to save - 43 per cent have saved or are planning to save into a cash ISA this year
  • People using their ISA allowance have saved or are planning to save £3,248 into a Cash ISA this year
  • Household bills top the list of the most common reasons people dip into their ISAs

Retirees are the most likely group to save into a cash ISA this year, with 43 per cent stating they have already, or are planning to save before the end of the current tax year.* Working families with children are also getting into the savings habit with 42 per cent putting money away according to new research from MoneySupermarket.

The UK's number one comparison website found that on average across Britain, 39 per cent of adults have already saved, or are planning to save into a Cash ISA before the end of the current tax year. Of these, it is those who are retired who are the most likely to save, followed by working families with children. Almost four in ten (38 per cent) of young working professionals indicated they will be saving into a Cash ISA this tax year. Just over one in 10  (13 per cent) adults have a Cash ISA but have not saved into their ISA this tax year and are not planning to do so before the end of the tax year.

Circumstances clearly dictate the ability to put savings into an ISA. While almost half (48 per cent) of families where both parents are working will invest into a Cash ISA this year; this drops dramatically where there is only one working adult, with just 21 per cent being able to save.

Of those definitely intending to put their money into a Cash ISA this year, the average amount they plan to save is £3,248. However, over a quarter (28 per cent) plan to use their full Cash ISA allowance of £5,640. Retirees look set to save the most, putting away £3,901 on average. Young working professionals are a close second, planning to save £2,838 before the end of the current tax year, followed by working families with children under 18, who can afford to put away £2,570 on average.

Kevin Mountford, head of banking atMoneySupermarket.com, said: "It is encouraging to see so many people taking advantage of the tax free benefits of saving into an ISA. Unsurprisingly, it is those who are retired who are putting the most away, but it is encouraging to see so many young professionals getting into the savings habit. While not everyone can afford to put away the maximum tax free allowance of £5,640, taxpayers should try to use as much of their ISA allowance as they can to make sure that the interest they earn on their hard-earned savings is not unnecessarily lost to taxation.

"We are increasingly seeing more Cash ISAs being launched to the market, especially as we draw closer to the end of the current tax year, so for those planning to open an account, doing your homework and searching for the best rate available is crucial. In addition, if you have savings in ISAs you have opened in previous years, then it is worthwhile checking the rates being paid, as you could be on an un-competitively low rate. Switching an existing ISA balance to a market leading deal which allows transfers in, can help maximise your savings pot."

In total, nearly half (45 per cent) of those who have held a Cash ISA in the last five years have withdrawn money from it. The most common reason given for withdrawing money from these savings was to cover household bills, with over a quarter (26 per cent) stating this as the reason for the withdrawal. This was closely followed by 22 per cent of people using their ISA savings to pay for a holiday, and 18 per cent to fund a big ticket purchase such as a car or house. A further one in 10 (11 per cent) withdrew their money as they didn't feel the return they were getting was as much as they were hoping for.

Kevin Mountford continued: "With the cost of living on the up, and inflation remaining high, putting a little away each month into an ISA can help fund any unexpected expenses that may occur. At times like this, it is important to make sure you money is working as hard for you as it can do, and opening a Cash ISA is one of the most tax efficient ways to save and earn good interest on these savings."

Notes to editors

*Opinium Research carried out an online poll of 2,003 British adults from 8th to 11th February 2013.

MoneySupermarket.com compares (at 30th Jan 2013)

  • 134 car insurance brands and 97 home insurance brands
  • 9 broadband providers and 20 energy providers   
  • 31 unsecured loan and 5 secured loan providers
  • 62 mortgage lenders and 27 credit card providers
  • 62 savings providers and 37 current account providers.
  • Over 630,000 mobile phone deals

Our customers

We help our customers to save money on all of their household bills by providing a free, easy to use online service so they can compare a wide range of products in one place and find the product most suited to their needs. Our size means we are able to offer our customers exclusive, market-leading deals, including some they can't even get direct from providers.

Our providers

By having considerable volumes of informed customers actively looking for products and ready to purchase, we offer our providers an efficient and cost effective customer acquisition solution across all of our channels. This enables our providers to target their marketing spend in an effective and completely measurable way.

Our revenue comes predominantly from fees paid to us by product providers when a customer clicks through to their website and actually applies for or purchases a product. It is a success based marketing fee.

Our customer commitment

  • We make it easy to find the brands you expect to see
  • We strive to ensure a product cannot be found cheaper by going direct
  • We let you remain in control of your personal data
  • We are independent and impartial
  • We make it easy to switch and save
  • We strive to always show the most competitive product available

Lucy Banks

24a St John Street,
London, EC1M 4AY

D    020 7294 3689
E   [email protected]
W  http://www.lansons.com

'Agency of the Year' 2010, 2009, 2007 (PRCA), 2004 (PR Week), 2002 (CIPR), 1995 (PR Week)
'Agency of the Year' 2008 at The Financial Services Forum Awards for Marketing Effectiveness
Ranked 9th in the UK's Top 25 Best Medium Size Workplaces 2012 (Great Place to Work® Institute) and Top 50 for eight years running

Ranked 47th in the 50 Best Small and Medium Sized Workplaces in Europe 2012 (Great Place to Work® Institute)

Gold Medal PR Week Best Places to Work 2011

The information contained in this message may be CONFIDENTIAL and is intended for the addressee only. Any unauthorised use, dissemination of the information, or copying of this message is prohibited. If you are not the addressee, please notify the sender immediately by return e-mail and delete this message. Although this e-mail and any attachments are believed to be free of any virus, or other defect which might affect any computer or system into which they are received and opened, it is the responsibility of the recipient to ensure that they are virus free and no responsibility is accepted by Lansons Communications LLP for any loss or damage from receipt or use thereof. Lansons Communications is the trading name of Lansons Communications LLP. The views expressed are of the individual, and do not necessarily reflect the views of Lansons Communications LLP.

For further information contact: 

Paul Lawler/Kate Murphy
+44-(0)787-237 9545 / +44-(0)1244-221978
[email protected] / [email protected]


SOURCE moneysupermarket.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
What is the best strategy for selecting the right offshore company for your business? In his session at 21st Cloud Expo, Alan Winters, U.S. Head of Business Development at MobiDev, will discuss the things to look for - positive and negative - in evaluating your options. He will also discuss how to maximize productivity with your offshore developers. Before you start your search, clearly understand your business needs and how that impacts software choices.
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
SYS-CON Events announced today that Fusic will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Fusic Co. provides mocks as virtual IoT devices. You can customize mocks, and get any amount of data at any time in your test. For more information, visit https://fusic.co.jp/english/.
SYS-CON Events announced today that MIRAI Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MIRAI Inc. are IT consultants from the public sector whose mission is to solve social issues by technology and innovation and to create a meaningful future for people.
SYS-CON Events announced today that Enroute Lab will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enroute Lab is an industrial design, research and development company of unmanned robotic vehicle system. For more information, please visit http://elab.co.jp/.
SYS-CON Events announced today that Mobile Create USA will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Mobile Create USA Inc. is an MVNO-based business model that uses portable communication devices and cellular-based infrastructure in the development, sales, operation and mobile communications systems incorporating GPS capabi...
SYS-CON Events announced today that Interface Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Interface Corporation is a company developing, manufacturing and marketing high quality and wide variety of industrial computers and interface modules such as PCIs and PCI express. For more information, visit http://www.i...
SYS-CON Events announced today that Keisoku Research Consultant Co. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Keisoku Research Consultant, Co. offers research and consulting in a wide range of civil engineering-related fields from information construction to preservation of cultural properties. For more information, vi...
There is huge complexity in implementing a successful digital business that requires efficient on-premise and cloud back-end infrastructure, IT and Internet of Things (IoT) data, analytics, Machine Learning, Artificial Intelligence (AI) and Digital Applications. In the data center alone, there are physical and virtual infrastructures, multiple operating systems, multiple applications and new and emerging business and technological paradigms such as cloud computing and XaaS. And then there are pe...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
SYS-CON Events announced today that B2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. B2Cloud specializes in IoT devices for preventive and predictive maintenance in any kind of equipment retrieving data like Energy consumption, working time, temperature, humidity, pressure, etc.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, will discuss how data centers of the future will be managed, how th...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp em...
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...
SYS-CON Events announced today that Suzuki Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Suzuki Inc. is a semiconductor-related business, including sales of consuming parts, parts repair, and maintenance for semiconductor manufacturing machines, etc. It is also a health care business providing experimental research for...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...