Over-55s more likely to choose S&S ISAs - ISAs - News - Moneyfacts


Over-55s more likely to choose S&S ISAs

Over-55s more likely to choose S&S ISAs

Category: ISAs

Updated: 08/04/2013
First Published: 08/04/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Research by Standard Life has revealed a large number of over-55s are more inclined to invest their annual ISA allowance in a Stocks and Shares ISA, compared with younger savers.

Around 11% of people aged over 55 favoured investing in the stock market via their ISA, compared to 7% of 35-44 year olds, whilst 6% of all UK adults stated that they were planning to invest more of their money in a Stocks and Shares ISA over the new tax year.

The findings also showed that 12% of men currently hold investments in a Stocks & Shares ISA, in contrast to just 6% of women. However, an equal number (41%) of men and women were happy to place their money in a variable cash ISA.

Commenting on the findings, Julie Russell, of Standard Life, claimed many people could be unwilling to invest their allowance in a Stocks & Shares ISA due to a lack of confidence of the stock market and the risks involved.

"Those who are more willing to take more risk with some of their money should possibly consider using as much of the annual £11,520 stocks and shares ISA allowance as they can this new tax year," she said.

"Diversifying the investment portfolio remains key to managing ISA risk, which is why risk managed funds are proving so popular."

What next?

Find all the best cash ISAs with Moneyfacts.co.uk Savings search

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Top 6 inflation-beating cash ISAs

Inflation jumped up to a 22-month high in September, official figures have revealed, with the measure of CPI standing at 1%.

Could your newborn become an ISA millionaire?

Many parents like to set up a savings account for their newborn, giving them a valuable nest egg for the future. But what if you could give them an even better payoff and help them become a millionaire? According to research, it’s possible…

Help to Buy ISA no-go zones on the rise

Nearly half of England could become a Help to Buy ISA no-go zone by spring 2017, due to the rising cost of average house prices meaning the ISA’s thresholds will be exceeded in a vast number of areas.