Budget 2014: Savers to benefit from ISA and pension reforms

THE Government will boost the ISA savings limit, scrap compulsory annuities and introduce a pensioner bond.

Investors were previously allowed to invest £11,520 per year into a stocks and shares ISA, and £5,760 in a cash ISA, up to an overall limit of £11,520.

The Chancellor will merge these into a single £15,000 pot from July. He said the motivation was the fact that three quarters of those who hit the cash ISA limit are basic rate taxpayers.

And in a major piece of tax reform pensioners will n... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...