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
The IoT has the potential to create a renaissance of manufacturing in the US and elsewhere. In his session at 18th Cloud Expo, Florent Solt, CTO and chief architect of Netvibes, will discuss how the expected exponential increase in the amount of data that will be processed, transported, stored, and accessed means there will be a huge demand for smart technologies to deliver it. Florent Solt is the CTO and chief architect of Netvibes. Prior to joining Netvibes in 2007, he co-founded Rift Technol...
Join IBM June 8 at 18th Cloud Expo at the Javits Center in New York City, NY, and learn how to innovate like a startup and scale for the enterprise. You need to deliver quality applications faster and cheaper, attract and retain customers with an engaging experience across devices, and seamlessly integrate your enterprise systems. And you can't take 12 months to do it.
This is not a small hotel event. It is also not a big vendor party where politicians and entertainers are more important than real content. This is Cloud Expo, the world's longest-running conference and exhibition focused on Cloud Computing and all that it entails. If you want serious presentations and valuable insight about Cloud Computing for three straight days, then register now for Cloud Expo.
IoT device adoption is growing at staggering rates, and with it comes opportunity for developers to meet consumer demand for an ever more connected world. Wireless communication is the key part of the encompassing components of any IoT device. Wireless connectivity enhances the device utility at the expense of ease of use and deployment challenges. Since connectivity is fundamental for IoT device development, engineers must understand how to overcome the hurdles inherent in incorporating multipl...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, will discuss how leveraging the Industrial Interne...
The paradigm has shifted. A Gartner survey shows that 43% of organizations are using or plan to implement the Internet of Things in 2016. However, not just a handful of companies are still using the old-style ad-hoc trial-and-error ways, unaware of the critical barriers, paint points, traps, and hidden roadblocks. How can you become a winner? In his session at @ThingsExpo, Tony Shan will present a methodical approach to guide the holistic adoption and enablement of IoT implementations. This ov...
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry's single source for the cloud. Fusion's advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, will explain how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...